Its backed by Gold but how do I cash this out for Gold? Can I send my tokens in for grams or ounces of Gold?
You can change gold tokens to ETH and BTC and vice versa using their marketplace.
(Visit the link below) https://gold.storage/en/marketIt's very easy to use. Everything is done automatically.
You can also trade gold tokens in Catex, Coinsbit, Cryptex, Livecoin, and Bitforex exchanges.
In addition to, the token was only tradeable on the mentioned exchange site and the project personal marketplace at the moment but there's big chance for the token to be use to claim physical gold in the future.
Who stores the Gold? What country is allowing this and what protections are provided?
Physical golds are stored in BullionStar's vaults. You can verify this using the link below.
https://www.bullionstar.com/myaccount/audit(Their account number is 17081)
Aside the verification of bullionstar vault where the project gold are saved, the project smart contract was also audited by reputable Swiss based blockchain security company ChainSecurity.