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Question

Consider the following statements:

Statement-I: Switzerland is one of the leading exporters of gold in terms of value.

Statement-II: Switzerland has the second largest gold reserves in the world.

Which one of the following is correct in respect of the above statements?
(a) Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I.
(b) Both Statement-1 and Statement-II are correct and Statement-II is not the correct explanation for Statement-I.
(c) Statement-l is correct but Statement-II is incorrect.
(d) Statement-I is incorrect but Statement-II is correct.

Answer:

C

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Explanation:

Statement-I is correct. Switzerland is indeed one of the leading exporters of gold in terms of value. It has a significant role in the global gold market and is known for its refining and trading activities related to gold.

However, Statement-II is incorrect. Switzerland does not have the second largest gold reserves in the world. While it holds a significant amount of gold as part of its national reserves, countries like the United States, Germany, and Italy have larger gold reserves.

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