Polarized light scattering is utilized to measure the optical anisotropy and the aspect ratio for nearly spherical colloidal gold nanoparticles as well as to observe their rotational dynamics which were detected as fluctuations in the time-trace of the scattering polarization. A comparison between the measured distributions of maximum anisotropy and aspect ratio with those distributions calculated based on the TEM images analysis are found to show an excellent agreement confirming the validity of our approach. Our method has the advantage to be simple, easy to implement, and can yield access to different projections of the particle due to its rotational diffusion. The range of aspect ratios for the sample being studied is 1 ~ 1.3 and another results for rods with aspect ratio of 2.4 is discussed. Gold nanoparticles have a good biocompatibility where the possibility of conjugation to a variety of biomolecules and antibodies make them suitable for optical imaging and optical probes which can be used for nanoscale orientaional sensing to monitor orientations and rotations of biomolecules during their functional task.