Allmusic.com lists several songs called IT'S ALL GONE.

Bob Rylett recorded one on his album "It's All Gone." It doesn't say who wrote that one, and there is no sound sample there, but it's the only one classified as "folk."

Betty Dempsey recorded one that she wrote; it's on "Country Favorites" and "Tribute to Betty Dempsey." That's the only one they classify as "country." Again, no sound sample.

The Waterboys recorded one written by Mike Scott, on "Rock in the Weary Land." They classify that one as "rock." I listened to a sound sample, and it seems unlikely that's the one you want, but I can't be sure.

There are several other songs with the same title classified as Blues, Electronic, Jazz, R&B, or Rock. (Rock seems to be the default category that Allmusic.com uses when they don't have a clue how to classify something.)