gs1medium
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 explains Statement-I
- B.Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- C.Statement-I is correct but Statement-II is incorrect
- D.Statement-I is incorrect but Statement-II is correct
▶ Answer & Explanation
Correct answer: C. Statement-I is correct but Statement-II is incorrect
Switzerland is indeed a major hub for gold refining and trading, making it a leading exporter of gold by value. However, while it holds significant gold reserves, it does not possess the second largest in the world; countries like the United States and Germany typically rank higher in terms of official gold holdings.
Source: UPSC gs1 2023