The Keyword is "Unallocated" by which it is not misleading at all. if two countries traded 100 tonnes of physical backed gold securities as you proposed this would be an allocated trade.
The amount of paper out there is laughable! not worthy the suff its printed on but hey thats futures markets for you! Always trading in the future of could be, would be, should be's.
WPG Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held