New York, Dec 7 (TradersHuddle.com) – As the Federal Reserve Chairman Ben Bernanke spoke a key and very strong market reversal occurred with the weakness in the Dollar.

The Dollar Index dropped as Ben Bernanke provided little clues regarding the Fed’s interest rates policy and gave no indications that the good economic improvements are leading to a short tightening of the US economic policy.

Although the oil and energy sectors remained mixed, we did see a big intraday reversal in the price of gold.

The price of Gold tumbled last Friday after a better than expected unemployment number, resulting in a big spike in the Dollar and a big sell-off in Gold. With this reversal in the Dollar, investors appear to be returning to the gold rush.

The Spider Gold Trust (NYSE:GLD) has been the easy way to play the latest Gold rush for retail investors. The Spider Gold trust or GLD is considered to be the world’s fourth largest holder of gold, which is a testament on how this asset is becoming the most have commodity in investor’s portfolios.

The trend in Gold has seen an increase momentum in its last leg up after a consolidation period during last October. The GLD after breaking above $104.75 on the news about India increasing its gold reserves it has not looked back moving all the way near $120. This is where the GLD felt toppy, as the short term chart pattern went parabolic, which usually result in a sharp sell-off.

Investors have been pushing the price of the gold miners higher as the price of the underlying commodity was going up, historically playing the gold miners had provided better returns than playing the underlying commodity.

This reversal in the Dollar and big reversal in the price of gold is translating to a big push in shares of gold miners like Yamana Gold Inc (NYSE:AUY) and Barrick Gold Corp (NYSE:ABX).

Yamana Gold (NYSE:AUY) opened very close to the 50 day moving average, which is now probing to be a prime buying opportunity, as the price of gold has pushed Yamana stock significantly higher from this morning lows.

As for Barrick Gold Corp (NYSE:ABX) also reversed after seeing its session trading lows this morning, Barrick announced last week that it was closing its hedges to maximize profits from the rise in gold. Gold miners routinely hedge themselves, which recently this practice has become less common with the rapid ascend of the underlying commodity