A huge pile of gold in a secure location allows a government to operate in exile essentially forever without creating substantial debts for the home nation. It's not just "Italy's gold", it's "Contemporary Italy's gold".

Norway & the Netherlands moved their gold right before the Nazi invasions in the 40's, and were able to continue operating in exile as a result. Taiwan was established on the back of this tactic too, with the Chinese nationalists moving their gold out of the mainland into Taiwan when they realised they'd lose to the Communists.