It's a excerpt of Derren's Evening of Wonder show.
The clip is from the end. He's not doing "just cold reading."
It's a very very good Q and A act with cold reading added in. The clip is missing the envelopes that people fill out and deposit in a bowl on the stage before then.
He uses many many methods all mixed in to one presentation. Derren is a master at what he does.
If you want to pick up a good Q and A act and learn a lot about mentalism - I suggest getting Bob Cassidy's The Artful Mentalism of Bob Cassidy
In that book (link is provided above for it) he has some really good Q and A acts using mutliple methods. Not Derren's version - but some good ones to learn from.
Also I believe both Annemann and Corinda have methods in their books as well.
*edit - Corinda has a whole chapter on it. Step 11 in 13 Steps to Mentalism