The market may be trading lower today, but that hasn't stopped one stock from charging higher.
In morning trade, the ASX gold stock in this article is up 10% to $2.44.
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Which ASX gold stock?
The gold stock that is getting a lot of attention from investors today is Kingsgate Consolidated Ltd (ASX: KCN).
Investors have been scrambling to buy its shares for a couple of reasons.
The first is a strong rise in the gold price on Friday night after weak US economic data sparked hopes that the US Federal Reserve will be forced to cut interest rates.
This has led to the S&P/ASX All Ords Gold index rising by 3.4% at the time of writing.
What else?
The other catalyst for the strong rise has been the release of a production update from the ASX gold stock this morning.
According to the release, Kingsgate's Chatree Gold Mine in Thailand achieved very strong output during the month of July, with records being broken.
The world-class Chatree Gold Mine is Kingsgate's flagship asset and operated through its Thai subsidiary Akara Resources. The mine has a mineral resource of 3.8 million ounces of gold and 30.5 million ounces of silver and ore reserve of 1.24 million ounces of gold and 11.5 million ounces of silver.
It is located in central Thailand, approximately 280km north of the capital of Bangkok and close to the Phichit, Phetchabun and Phitsanulok provinces.
The ASX gold stock revealed that it produced more than 8,700 ounces of gold and more than 64,400 ounces of silver for the month.
Management notes that these figures represent the highest monthly production rate since operations restarted in March 2023.
How does this compare?
As a comparison, during the final quarter of FY 2025, the company recorded gold production of 20,278 ounces and silver production of 166,807 ounces.
If the company were to maintain its current level of production in August and September, it would end up with quarterly production of 26,100 for gold and 193,200 of silver, comfortably ahead of the previous quarter.
Commenting on its performance, the ASX gold stock's managing director and CEO, Jamie Gibson, said:
We're off to a cracking start for FY26, and these figures showcase the hard work and commitment of our operations team to deliver continuous improvements at Chatree.
Following today's gain, the Kingsgate Consolidated share price is up almost 80% since this time last year.
