Barry Pang has had some amazing luck with his horses at Caulfield.

But after coming up with barrier 21 for his Caulfield Cup favourite Glencadam Gold, he is feeling like it ran out 25 years ago.

Pang has had plenty to cheer about so far with Glencadam Gold who has won his only four starts in Australia, racing his way to the top of the betting in Saturday's $2.5 million Caulfield Cup and next month's Melbourne Cup.

But the imported galloper has now run into a serious hurdle with the only compensation coming from an even worse draw for the equal second favourite Dunaden.

Until he became a part-owner of Glencadam Gold, Pang's biggest success had been the win of Marwong in the 1987 Caulfield Guineas.

"He won on protest and was 100-1," Pang said.

"So we were very, very lucky."

Pang and his family took a break from racing after the death of Marwong's trainer Geoff Murphy and Glencadam Gold has been easily the best horse the Melbourne-based owner has raced since.

The Gai Waterhouse-trained Glencadam Gold will be ridden for the first time on Saturday by Jim Cassidy who will be looking for his third Caulfield Cup win, having won the race on Might And Power in 1997 and Diatribe in 2000.

Having fared so poorly with his choice of barrier, Pang has happily handed his Cup fate over to the veteran rider.

"All I can say now is that we have the right jockey, he knows how to win these big races," Pang said.

For the 2011 Melbourne Cup winner Dunaden and his rider Craig Williams, the draw could hardly have been worse.

The French runner will start from barrier 18 after the emergencies are taken out, one outside Glencadam Gold.

"It couldn't be worse, "William said.

"The horse needs cover and it's going to be hard to get it from out there."

Bookmakers reacted to the draw by easing Glencadam Gold from $4 to $4.50 and Dunaden from $6 to $7.

The big firmer following the draw is the English-trained, Australian-owned My Quest For Peace who came up with barrier two and was turned in from $17 to $12.

Last year's beaten favourite December Draw has also fared well with 12 and Peter Moody's top pick of his three runners, Lights Of Heaven, is perfectly placed in eight.

Moody's other runners, the Italian pair Voila Ici and Sneak A Peek drew 17 and 10 respectively.

Moody said Voila Ici would have little choice but to go forward with Glencadam Gold while Sneak A Peek, a $15 chance, was capable of getting into the finish "with an ounce of luck".