Why do you think that Italy has decided to do this? Do you believe gold is important to Italy? I have considered the possibility that if Italy is eventually going to collapse and end up with the Lira again, having the large gold reserves may strengthen the currency.
Italy is making waves in the news for those who are paying attention. First they made it very clear that they don’t like their central bank. Then they decided to explicitly mention Italy’s gold belongs to the people, not the central bank. This may seem to be a small distinction but perhaps if their fate is collapse and crisis, having it put into law that the gold cannot be taken away as all of Italy’s assets are sold off is a very smart move. Let’s see how it plays out.
Italian Populists Target Huge Gold Reserves and Some Cry Foul – BNN Bloomberg
Matteo Salvini talks up seizing control of Italy’s gold reserves
World Gold Reserves by Country | Central Bank Statistics | Goldhub
Italy Gold Reserves | 2019 | Data | Chart | Calendar | Forecast | News