Consider the following statements: Statement-I: Switzerland is one of the leading exporters of gold in terms…
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?
Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
Statement-I is correct but Statement-II is incorrect
Statement-I is incorrect but Statement-II is correct
Solution
Statement-I is correct (Switzerland is a leading gold refiner and exporter). Statement-II is incorrect — the US holds the largest reserves; Germany is second, not Switzerland.