(gold or account) metal held for a client but no specific bar or bar number. This metal can be considered part of the general pool of metal held by the Bank and so lent out without the owners knowledge or consent. Contrast allocated.
Member and employer contributions received by a superannuation fund remain unallocated until they are duly recorded in the accounts of the members concerned.
An account in which an investor's gold is not specifically identified. This is cheaper, since there are no storage charges.
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See sundry, overheads