  The temperature dependence of the in-plane optical conductivity has been
determined for Fe$_{1.03}$Te above and below the magnetic and structural
transition at $T_N\simeq 68$ K. The electron and hole pockets are treated as
two separate electronic subsystems; a strong, broad Drude response that is
largely temperature independent, and a much weaker, narrow Drude response with
a strong temperature dependence. Spectral weight is transferred from high to
low frequency below $T_N$, resulting in the dramatic increase of both the
low-frequency conductivity and the related plasma frequency. The change in the
plasma frequency is due to an increase in the carrier concentration resulting
from the closing of the pseudogap on the electron pocket, as well as the likely
decrease of the effective mass in the antiferromagnetic state.
