Srinagar, May 19 -- The Indian rupee opened 12 paise stronger at 85.44 against the US dollar on Monday, bolstered by global economic cues and market sentiment. This follows Friday's closing rate of 85.52 per dollar.

Simultaneously, gold prices witnessed an upward trend in early domestic futures trading. On the Multi Commodity Exchange (MCX), the June 5 gold contract was up 0.95% at Rs.93,317 per 10 grams. This surge was driven by a weakening US dollar and renewed fears over a possible return of Donald Trump-era trade tariffs. The dollar index dropped nearly 0.3%, making gold more affordable in other currencies and increasing demand.

Rahul Kalantri, Vice President of commodities at Mehta Equities, noted gold is currently supported at $3,...