There's a difference between fashion and style, though. A suit is timeless, wearing a suit doesn't put out gay vibes. However, if I saw a guy wearing really "trendy", avant garde, "fashionable" looks, I'd probably assume he's gay. Sorry
very much so,especially if you're into the latest collections/ "trends" in case you can't afford designer things.
anyway,even though i'm extremely aware i sound stereotypical; my answer would still be yes.
(although i've got loads of gay friends who can't dress for shittt, so i guess that counts to something eh?hm)