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David Brady: Thinly Traded Markets Can Leave Gold Investors in a Vulnerable Spot

Tom welcomes back David Brady to the show. David discusses the current state of the gold and silver markets. He believes that both metals are predicted to go lower in the short term due to thin markets, low capital requirements, and excessive shorting by bullion banks.

Brady advises traders to stop playing in between major levels and instead wait for the bottom before buying low and selling high. He emphasizes the importance of reducing emotion in trading and making rational decisions based on sentiment, technicals, Elliott Waves, positioning, and the DXY.

According to Brady, the bullion banks are manipulating the market, and he anticipates further short-term manipulation. Brady uses the FIPES process and data-based signals to predict market movements. He cautions against relying on forecasts and encourages traders to take “baby steps” to better understand short-term market shifts.

While Brady believes that the short-term future of gold and silver is lower, he remains bullish on their long-term prospects. He expects the value of the U.S. Dollar (DXY) to increase, primarily driven by higher yields. He considers a variety of factors, including technical indicators, sentiment, and fundamentals, before making forecasts.

David recommends looking at recent data for high-beta miners to avoid outlier values. He is particularly bullish on the year 2024 when the U.S. Dollar is expected to have a strong run before losing confidence.

Lastly he, also stresses the importance of keeping wealth outside of the banking system. He suggests real tangible assets like land and, especially, gold and silver as the best options. He views these metals as an insurance policy that can protect against financial collapse and potentially generate wealth.

Time Stamp References:
0:00 – Introduction
0:57 – Gold Market Outlook
4:44 – Issues With Think Markets
10:46 – Equities & Pivots
15:50 – Timelines & Advisors
21:05 – DXY & Bond Yields
25:03 – High Beta Miners
30:22 – Take On The Great Taking
35:48 – Wrap Up

Talking Points From This Episode

  • David predicts a further downfall for gold beyond the $1,988 low seen in earlier months due to thin markets, low capital requirements, and excessive shorting by bullion banks.
  • Investors should reduce emotion in traders and make rational decisions.
  • Have physical gold and silver to protect a person’s wealth from a potential financial collapse.
  • Central banks buying up gold and silver globally is an indication of stability in the market.

Fund Website:
Sprott Money:

David Brady has managed money for banks and businesses for 25 years. Mr. Brady is a CFA charter holder and holds a bachelor’s degree in Business Studies and Financial Markets from Dublin City University. He started as a foreign currency trader in USD/DEM and managed multi-billion dollar bond and foreign exchange portfolios for multinationals such as eBay and Salesforce.

He has always been interested in financial markets, winning investment competitions at the age of 15. Scoring the highest grade for his graduate thesis, “Is the ERM (Exchange Rate Mechanism) Fatally Flawed,” in 1993, and won foreign currency spot, forward, and bond trading competitions at 23. Suffice to say that financial markets have been his passion for much of his life.

David is a native of Dublin, Ireland. He moved to the United States in 1998 and now lives in Ontario, Canada, since 2015, with his wife and four kids.

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