Spot gold was little changed at $1,871.10 per ounce by 1002 GMT, after hitting its highest since Jan. 8 at $1,874.86 earlier in the day. Bullion had gained 1.7% on Wednesday.
Another retracement analysis on the fall from $1,959.01 to $1,809.90 reveals a support at $1,832, the 14.6% level, a break below may cause a fall to $1,820.
Biden unveiled a $1.9 trillion stimulus package proposal on Thursday designed to jump-start the economy and speed up the US response to the coronavirus pandemic.
Investors will also be focused on further clues on the US monetary policy outlook when Federal Reserve Chairman Jerome Powell participates in a virtual event, due at 1730 GMT.
Consumer prices are expected to run hotter in a couple of months when March and April of 2020, which saw very low inflation, fall off the yearly reading.