Gold rose slightly early in the European session after a gloomy trading session during the Asian session, making it remain trading around the $ 1,850 ounce price.
The precious metal has seen encouraging growth over the past week, with prices rising higher when Joe Biden was officially inaugurated as President of the United States on Wednesday.
However, President Joe Biden's $ 1.9 trillion coronavirus stimulus plan seems to face challenges to be approved after the Republican Senator stated the value of the proposed aid package was too large.
In addition, they also expressed dissatisfaction with certain expenses, such as the provision to set the unemployment benefit of $ 400 until September.
This will probably make it difficult for Biden and the Democrats to approve its implementation sooner.
Meanwhile, this week's FOMC policy meeting will be the main focus of the market where the US Federal Reserve (Fed) is expected to be more dovish with the current policy approach.
