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?
Show answer
Answer: C. Statement-I is correct: Switzerland is one of the world's top gold exporters by value because it refines much of the world's gold. Statement-II is wrong: the USA has by far the largest official gold reserves, followed by Germany; Switzerland is around seventh. So I is correct, II is incorrect.
Watch for: Switzerland's gold refining fame makes students think it also holds huge reserves.
Why the other options are wrong
- A. Wrong because Statement-II is false.
- B. Wrong because Statement-II is false.
- D. Wrong because Statement-I is true.
Source to check: World Gold Council, World Official Gold Holdings (2023); UN Comtrade data on gold exports
Answer from the official UPSC key. Written and fact-checked by AI against the official key. Spotted a mistake? Report it.