Bart Cummings bought the horse Gold And Black for $4,000 in New Zealand for his Adelaide clients, Jack and Mary Harris who brought in Hugh and Gloria Gage from Sydney as partners. Gold And Black was sired by In The Purple (France) and his dam was Gem (by Talismano).

Starting out in April 1975 at Morphettville, Gold And Black finished in the top five in his first few runs with a the best result being a 2nd placing over 1200m in the Sandringham Hcp behind Better Vain. His first look at Flemington saw the gelding run a creditable 3rd to Silver Shaft over the mile, before another 3rd in a sprint maiden at Ballarat. Third placings would be a common theme throughout his career with another at Moonee Valley in October before a further 3rd in the 1975 Victoria Derby behind Galena Boy and Romantic Archer. 

Incredibly, another 3rd at Flemington would follow before finally winning the Randwick Stakes over 2000m in December 1975. Cummings would see his colt run a further 3rd at Rosehill to finish off the campaign.

In September 1976, Gold and Black won the Hilton Handicap (Morphettville, 1850m) and STC Cup (Rosehill, 2400m) and in October the Mackinnon Stakes before finishing second to Van der Hum in the wet 1976 Melbourne Cup. Cummings must have thought Gold And Black's chances of winning a Melbourne Cup had ended when a massive thunder storm hit Flemington and washed away his confidence. Following the big Cup effort in shocking conditions, Gold And Black would be runner up to Balmerino in April 1977 in the Autumn Stakes (2000m) at Randwick and Tommy Smith’s little champion Reckless in the Sydney Cup (3200m). A final 2nd placing to Ngawyni in the Queen Elizabeth Randwick Stakes would finish a strong Autumn campaign without any G1 silverware, however, in early 1977 Gold and Black had fallen seriously ill with "travel fatigue," more likely pneumonia, with his life briefly in danger. Cummings carefully restored the horse to full health for his spring campaign.

At Flemington in November Gold and Black started 7/2 favourite for the Cup after placing second in the Mackinnon Stakes behind Sir Silver Lad. Carrying a weight of 57kg with Jack Duggan aboard, he won the Melbourne Cup by a length from the Tommy Smith trained Reckless, with the high quality Hyperno in third. Gold And Black charged steadily forth from the half mile mark on a fast track to enter the straight swooping into the race quickly, and had plenty in reserve at the line after Hyperno had hit the lead with a glorious inside run on the rail, and Reckless running on too late as the only challenger. In running a time of 3:18.4 to win, Gold And Black picked up the winners purse of $156,700. His victory gave Cummings a record sixth win in the race. It was third time lucky for jockey John Duggan who had been runner up in the 1975 and 1976 Cups on Holiday Waggon and Gold And Black respectively. A third to the superstar Kingston Town in the Tancred Stakes in March 1980 would be his last major placing, retired after a 4th in the Queen Elizabeth Stakes.

After retiring from racing Gold And Black became a Clerk Of the Course horse on South Australian tracks and was buried at the Gawler race course after he died in the mid 1980's. The presentation ceremony to Gold And Black after the Cup race went down in political folk lore as a drunken Governor General, Sir John Kerr, made what was to be his farewell appearance. During his presentation of the cup he was booed and jeered by many in the crowd of over 81,000.

STC Cup (1976)

Mackinnon Stakes (1976)

Melbourne Cup (1977)

2nd Melbourne Cup (1976)

He ran 2nd to Van der Hum in the giant 1976 downpour, but grabbed the Cup chocolates in 1977