According to BlockBeats, StoneX analyst Fawad Razaqzada has indicated that the outlook for gold has become bleak due to improved risk sentiment and the potential strengthening of the U.S. dollar.
A stronger-than-expected U.S. employment report on Friday has encouraged market bets on a stronger dollar, further diminishing gold's appeal as a safe-haven asset. While there is a possibility of a short-term pullback in gold prices, Razaqzada noted that technical trading indicators remain bullish, suggesting potential for a rebound.