Q26. 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.
Question from UPSC Prelims 2023 GS Paper
Explanation :
Correct Answer: c. Statement-I is correct but Statement-II is incorrect.
Switzerland
Switzerland is indeed one of the leading exporters of gold in terms of value, due to its well-established gold refining industry and role as a trading hub for gold. However, Switzerland does not have the second largest gold reserves in the world. According to the World Gold Council, the United States has the largest gold reserves, followed by Germany, Italy, France, and Russia. Switzerland is not in the top five countries in terms of gold reserves.
