Former Hong Kong galloper Gold Mount has been retired after suffering a suspensory injury during the Group One Caulfield Cup in Melbourne on Saturday.

The seven-year-old, who was trained first by Tony Cruz and then Richard Gibson during his time in Hong Kong, finished 12th in the Caulfield Cup and was on track for the Melbourne Cup before injury struck.

“He came back fine from the racecourse on Saturday and his legs were good, but when I took off his bandages the next morning you could see there was something not right,” Fabrice Smeulders, the travelling head groom for trainer Ian Williams, told Racing.com.

“The vet came and scanned him and discovered damage to his suspensory so he has been retired. It’s a big blow for everyone. He’s a very kind horse and so professional.”

After starting his career in England, Gold Mount raced in Hong Kong for two years before connections decided to send the horse back to the United Kingdom after his fourth in the Group Two Dubai Gold Cup (3,200m) at Meydan in March.

He won three times from 18 starts in Hong Kong but ultimately there were not enough staying races for the horse, who saluted in the Race to the Ebor Grand Cup before coming second in the Group Three Silver Cup after returning to England.

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Gold Mount, who is owned by Hong Kong billionaire Pan Sutong, was 28th in the order of entry for the Melbourne Cup on November 5.

He will remain in Australia and spend his retirement at Pan’s Goldin Farm stud in Angaston, South Australia.

Also ruled out of the Melbourne Cup on Monday was Red Verdon, who is owned by former Hong Kong Jockey Club chairman Ronald Arculli and finished eighth in the Caulfield Cup, half a length ahead of Gold Mount.

The Ed Dunlop-trained galloper will return to the UK after an emerging bone issue was discovered in his off foreleg.