Seriously looking into rolling over my old 401k into a Gold IRA - tax implications?

• •Hey everyone, just looking for some sanity checks here.
• •I'm a manufacturing exec up in Cleveland, 40 years old, seen enough booms and busts to know I like having something tangible.
• •My 401k from a previous company has been sitting there, just north of $300k, stagnant for the last five years and it's making me antsy.

Hey everyone, just looking for some sanity checks here. I'm a manufacturing exec up in Cleveland, 40 years old, seen enough booms and busts to know I like having something tangible. My 401k from a previous company has been sitting there, just north of $300k, stagnant for the last five years and it's making me antsy. With all the inflation scares and geopolitical craziness, I've really been digging into the idea of a Gold IRA. Hard assets just make sense to me.

I understand the general concept of a direct rollover from a 401k to an IRA account, and then funding that IRA with actual physical gold. My main hang-up right now is really hammering down the tax implications. I'm not looking to do a distribution, obviously, just a straight rollover. Am I right in thinking that as long as it's a direct trustee-to-trustee transfer, there shouldn't be any immediate tax hit? I’m trying to avoid that 10% early withdrawal penalty and income taxes like the plague. Does anyone have experience with this specific type of rollover – 401k to a Gold IRA? Were there any hidden fees or tax complications you ran into that aren't immediately obvious?

Also, when it comes to the actual purchase of the gold, I'm assuming that's also not a taxable event until eventual distribution, as it's all within the IRA wrapper. Is that always the case? I've been looking at a few different custodians and frankly, the information can be a bit overwhelming. Any advice on pitfalls to avoid would be massively appreciated. I want to make sure I'm doing this completely by the book to protect this capital.

It's a big move financially, and while I'm confident in the underlying value of gold, I'm less confident in navigating all the IRS jargon. I actually used that Eligibility Checker over at eligibility.goldirablueprint.com/ the other day just to see if I even qualified for a Gold IRA in the first place (spoiler alert: I do!). Now I'm just trying to make sure I don't mess up the execution from a tax perspective. Thanks in advance for any insights!