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
Correct Answer
D
Statement-I is incorrect but Statement-II is correct
Explanation
Statement-I is correct because Switzerland is the world's leading gold refining hub and transit point, consistently ranking as the top exporter of gold by value globally. Statement-II is incorrect because the largest gold reserves are held by the USA, followed by Germany, with Switzerland typically ranking seventh or eighth. This question tests the core concept of distinguishing between a country's commercial trade dominance in a commodity and its central bank's official sovereign bullion reserves.
International Trade & ReservesGold Exports and Reserves (Switzerland)Switzerlandgold exportersgold reservesvalueglobal tradeprecious metalscentral bank reservescommodity markets