Consider the following statements:
1. A decrease in the U.S. dollar's value leads to an increase in the international price of gold due to gold being a global asset priced in U.S. dollars.
2. Rising international crude oil prices lead to lower gold prices as gold is considered a hedge against inflation.
Which of the statements given above are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2