Question

The magnet always remain suspended in the north south direction

Answer 1

I think it is because of the gravity of earth which acts as south pole?
I am not sure

Answer 2

Let me make it simple earth has 2 poles as we know and also has a magnetic field which is always parralel and we know that mgnetuc feild lines move from north to south therefore due to the earths mgnetic feild theThe magnet always remain suspended in the north south direction