Within your IRA, you can purchase precious metals. The same tax structure applies to your IRA regardless of the assets in it. For traditional IRAs, taking distribution before 59 1/2 years of age comes with a 10 percent penalty, and then you pay taxes on top of that. Required mandatory distributions start at 70 1/2 years old. ROTH IRAs maintain their existing tax structure as well.
Consult your tax advisor for more information regarding your scenario.