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This may be a case of vertigo.Vertigo may be due to an underlying inner ear condition or it could be something which may involve more central structures like the brain. I do not want to cause further worries.Sinus and ear infections may affect the inner ear. Other causes however, may be more benign .Such is the case for benign positional vertigo wherein particular head positions may aggravate the condition.
I suggest you seek consult with an ENT specialist for a complete assessment of your condition.
Do you have any problems with your vision?
Thanks for the update.
Without any visual problems, then involvement of the ear needs to be ruled out. If no problem has been noted concerning the ear, then a neurologic referral may be made.
Infections of the inner ear like labyrinthitis which is "an infection or inflammation of the inner ear causing dizziness and loss of balance" and vestibular neuritis "an infection of the vestibular nerve, generally viral. " may present with similar symptoms. A viral infection may affect the inner ear. You have mentioned of a cold prior to your condition. This could be significant.
Source: http://seniorhealth.about.com/library/conditions/blbalance4.htm
Drink plenty of water and see your primary physician so you may be assessed early on.