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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?

UPSC · 2023 · International Relations
Question:
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?

Options

Both correct and II is correct explanation
Both correct but II is not correct explanation
Statement-I correct but Statement-II incorrect
Statement-I incorrect but Statement-II correct
Answer: Statement-I correct but Statement-II incorrect

Explanation:
Switzerland refines and exports gold but does not hold large reserves; the US and Germany have the largest reserves.

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