Gold prices declined after U.S. President Trump's statements about keeping the post for Fed Chairman Jerome Powell and a possible reduction of tariffs on Chinese goods. The metal's price fell to $3300 per ounce. Improved market sentiment and a stronger dollar reduced the attractiveness of gold as a protective asset. Nevertheless, despite the short-term decline, the long-term outlook for gold may remain positive, especially with the ongoing uncertainty in the global economy. A local support zone can be found by the market around $3220, but the significant zone is located under the level of $3150. Given the markets' exposure to the general geopolitical environment and, especially recently, the rhetoric of US President Donald Trump, the risks of increased volatility should be taken into account when planning transactions.