Much heralded off an undefeated two year old season, Gilded Time was the favorite in the 1992 Juvenile. He overcame a rough trip around the Gulfstream Park oval to win, and secured the Eclipse Award for two year old colts. Gilded Time was bumped and shuffled back on the first turn, forced wide around the final turn, and bumped and battled down the stretch with River Special, before pulling clear in the final yards. He held off long shot It'sali'lknownfact to win by three quarters of a length.
Gilded Time was the early favorite for the 1993 Kentucky Derby, but bruised a foot in training, and did not race again until the 1993 Breeders' Cup Sprint, where he finished third.