Gold futures advanced to $445 per ounce on unstable U.S. dollar and possible strike of mine-worker unions in South Africa. Gold for December delivery was last traded at $444.20 bid per troy ounce. September silver fell 4.2 cents to $7.265. Copper for September delivery dropped 1.7 cents to $1.6545 a pound. Gold futures rose in early European trading. In mid-morning trading in London traders fixed a recommended price of $435.60 bid per troy ounce, up from $434.60. In Hong Kong gold gained $3.10 to close at $436.35. Silver opened at $7.25, down from $7.26.

The U.S. dollar fell against the euro which traded at $1.2337, down from $1.2332. The British pound fell to $1.7756, down from $1.7792 after the Bank of England cut its benchmark rate to 4.5%. The dollar bought 110.92 yen, down from 111.38.

EARNINGS NEWS

Alpha Natural Resources, coal producer, reported 2Q net profit of 43 cents a share vs. 83 cents last year on strong coal prices and overall coal margin, meeting analysts’ estimates.

Ross Stores, off-price apparel retailer, posted 17% total sales increase of $362 million and 7% same-store sales increase.

Health Net, health care provider, reported 2Q net income rise of 47 cents a share compared with 36 cents a year ago, missing estimates of 55 cents a share. The quarterly results include 8 cents litigation charge.

Radio One posted 2Q profit rise of 19 cents a share, up from 12 cents a year ago on 18% higher broadcast revenue, beating estimates of 16 cents a share.

Jo-Ann, fabric and craft retailer, announced 2Q 3.5% higher total sales but 0.5% lower same-store sales. The company expects a quarterly loss of 22 to 24 cents a share, citing softer-than-expected sales.

Dollar Tree Stores, discount retailer, posted 2Qtotal sales increase of 9.2% but same-store sales decrease of 1.5%. The company sees 2Q earnings in the range of 25 to 27 cents a share.

J.C.Penney, department-store chain, reported July same-store sales increase of 1.6% and total sales growth of 2.1%, or $1.185 billion.

New Century Financial posted 2Q profit decline of $1.65 a share vs. $2.46 last year on higher operating expenses, beating estimates of $1.54.

Gap, retailer, posted 2Q same-store sales decline of 3% with net sales flat at $3.72 billion. The company expects quarterly earnings of 28 to 29 cents a share, including one-time gain of 8 cents a share.

Family Dollar Stores, retailer, posted 1.6% comparable-store sales drop for July, but 5.7% increase in total sales to $418.8 million. The company expects flat 4Q same-store sales and lower earnings of 17 to 25 cents a share.

Central European Media Enterprises, reported 2Q three-fold higher net income, or 72 cents a share vs. 21 cents a year ago on revenue growth of 152%.

Dollar General, discount retailer, reported 2Q same-store sales rose 3.9% on strong food sales, pet supplies and paper products with total sales increase of 13% to $617.1 million.

BJ's Wholesale Club, warehouse clubs operator, said its same-store sales rose 4.7% in July, together with a 9.3% rise in total sales to $582.3 million on strong gasoline sales.

Cadmus Communications, integrated graphic communication services provider, posted 4Q net income of 13 cents a share against a loss of 22 cents a share in the year-ago period on growth in sales.

Revlon, cosmetics and skin care manufacturer, posted a 2Q loss of 10 cents a share, vs. a loss of 11 cents a share in the year-ago period, despite slight revenue growth compared with last year, but missing analysts' estimate by a penny.

Tesoro, petroleum products and marine logistics services provider, posted a decline in 2Q net income of $2.62 a share, down from. $3.11 a share in the same period last year on higher expenses, beating expectations of $2.48 a share.

Huntsman, chemical company, posted earnings of 73 cents a share, up from a loss of 29 cents a share from the same period last year on revenue growth, missing forecasts of 82 cents a share.