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-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
(c) Statement-I is correct but Statement-II is incorrect
(d) Statement-I is incorrect but Statement-II is correct
Explanation:
Based on the given statements:
Statement-I: Switzerland is indeed one of the leading exporters of gold in terms of value. Switzerland is home to many large gold refineries, and a significant amount of the world’s gold is refined there. This statement is correct.
Statement-II: However, Switzerland does not have the second largest gold reserves in the world. As of 2021, the countries with the largest gold reserves were the United States, Germany, and the International Monetary Fund, with Switzerland ranking much lower. This statement is incorrect.
So, based on this analysis, the correct answer is (c) Statement-I is correct and Statement-II is incorrect.
