The S&P/ASX 200 index opened higher, assisted by gains posted on Wall Street overnight.

The market looked to overseas leads, taking comfort in comments from Fed chairman Ben Bernanke indicating it would continue its bond buying program for as long as economic data proved it necessary.

The index hit an intraday high of 5008.8 points in early trade and while momentum dropped back, the market still managed to reverse yesterday’s losses, closing up 0.2% or 11.7 points to 4993.4 points.

The broader All Ordinaries was also 0.2% higher at 4976.9 points.

The Australian dollar was last trading at US91.75c after hitting a high of 92.51c.

It was a mixed performance for the miners. While Rio Tinto gained 1% to $A56.70, BHP Billiton closed just 0.1% higher at $34.22.

Gold companies were split, with PanAust adding 0.5% to $1.87 and Perseus Mining firming 1% to 49c, while Kingsgate Consolidated fell 4.2% to $1.59.

Silver Lake Resources dropped 2% to 73c after suspending work on its Caustons underground mine.

Still in the gold sector and Focus Minerals sank 6.7% to 1.4c after announcing late on Wednesday that it would suspend production at its Coolgardie mining centre.

Iron ore miners lost ground with Gindalbie Metals and Atlas Iron both declining more than 1.5%.

On its 10-year anniversary, Fortescue Metals Group remained unchanged at $3.71 after gaining 6% yesterday.

Mirabela Nickel travelled higher for a second day, firming 28% to 10.5c, after previously trading below 10c since late June.

Investors flocked to Kibaran Resources after it inked a graphite offtake agreement with a major European graphite trader. Kibaran shot up 26.6% to 10c.