David discusses his early career and how it taught him a lot about the psychology of people and markets. As humans, we want certainty in our decision making and investors like to believe that experts exist that know what will happen. In reality, this is not likely to be the case and experts tend to be wrong around half of the time. A thoughtful investor uses the macro factors but also monitors the price action for signals.
With gold currently, you have to remember you are playing within a fairly bullish trend. Gold is now in a big-base breakout and the price is now being re-defined likely much higher.