Formal Gold (foaled April 20, 1993 in Ontario) is a retired Canadian-bred Thoroughbred racehorse who raced in the United States. He is famous for defeating Hall of Fame champion Skip Away in four of their six meetings, with major stakes wins including the Woodward Stakes, Donn Handicap and Philip H. Iselin Handicap. He ran three of the eight fastest Beyer Speed Figures of the 1990s, earning him recognition as one of the best horses who never won a championship.

Formal Gold is a dark bay racehorse sired by Black Tie Affair, who was the 1991 Horse of the Year and the sire of 35 stakes winners including Evening Attire. Formal Gold was the fourth foal out of the Screen King mare Ingoldsby, who ultimately produced seven winners from ten foals.

Formal Gold was sold as a yearling at the 1994 Keeneland September sales for $65,000, then was resold at the Fasig-Tipton New York sales for $72,000 to John Murphy, a steelmaker from Quincy, Massachusetts. Formal Gold was conditioned by William Perry, who was a successful trainer on the mid-Atlantic circuit of racetracks including Monmouth Park and Suffolk Downs.

Formal Gold was a late developing horse, not making his initial start until June 12, 1996, halfway through his three-year-old season. His talent had already been noticed though, as he went off as the odds-on favorite in a maiden special weight race at Monmouth Park, and won by 18+3⁄4 lengths. The performance earned him a Beyer Speed Figure of 112, the highest ever given to a first-time starter.

Moving up to allowance company, he won his next three starts as well, all as the heavy favorite by open lengths. Formal Gold then stepped up to graded stakes company in the Pennsylvania Derby run at Philadelphia Park on September 2. He was the even money favorite in a field of six but was bumped at the start and fell to last place. He gradually made up lost ground and struck the lead in mid-stretch, but the early leader Devil's Home rallied and eventually won by 3⁄4 of a length. On October 4, Formal Gold entered the Grade I Meadowlands Cup Handicap, facing older horses for the first time. He again broke poorly and raced near the back of the back for the first half mile, then started to make up ground on the far turn while racing four wide. He closed well in the stretch but fell 3⁄4 of a length short of the winner Dramatic Gold.

Formal Gold finished his three-year-old campaign with a fifth-place finish in the Breeders' Cup Classic, behind Alphabet Soup, Louis Quatorze and favorite Cigar. Formal Gold was again hampered by a poor start and a wide trip, but made up ground late.

At the age of four, Formal Gold developed into one of the fastest horses of the 1990s, repeatedly running Beyer Speed Figures in the 120s. However, he raced at the same time as several excellent older horses, especially Skip Away, who was the champion three-year-old of 1996, champion older horse of 1997 and 1998, and would later be rated #32 on the Blood-Horse magazine List of the Top 100 U.S. Racehorses of the 20th Century.

Formal Gold started the year in the Grade I Donn Handicap at Gulfstream Park on February 8, 1997. Perry noticed that the track was favoring early speed and instructed jockey Joe Bravo to go for the early lead. Accordingly, Formal Gold led every step of the way with Skip Away unable to close the gap, finishing 1+1⁄4 lengths back in second. "It was like a workout", said Bravo. "We galloped right down the lane. He has speed, and he used it today." Skip Away's trainer Sonny Hine pointed out that Formal Gold benefited by carrying 10 pounds less than Skip Away (nicknamed Skippy) and received a perfect trip on the rail. "Skippy made an effort," he said. "We'll see that other horse next time."