He reached his peak as a four-year-old in 1973 when he won the Premio Presidente della Repubblica and finished second in the Eclipse Stakes before recording a 14/1 upset win in the Benson and Hedges Gold Cup.
[3] He was one of the best horses sired by Pardao who was a top-class middle-distance performer on both sides of the Atlantic, finishing third in The Derby and winning the San Juan Capistrano Handicap.
[3] Moulton's dam Close Up was a winning daughter of Horama, an Irish broodmare who has been the ancestor of numerous major winners including Teenoso, Sir Percy, Rule of Law and Harayir.
Ridden by Brian Taylor he held off a strong late challenge from the Bruce Hobbs-trained Paper Cap to win by a short head.
On his next appearance the colt contested the Dante Stakes (a major trial race for The Derby) over ten and a half furlongs at York Racecourse in May.
In the Prix du Prince d'Orange at Longchamp Racecourse in September Moulton was badly hampered in the closing stages before finishing third to Sharapour and Mister Sic Top and was promoted to second after the winner was disqualified.
[5] Following his campaign on continental Europe, Moulton returned to Britain to contest the Eclipse Stakes, which was run that year at Kempton Park Racecourse as a new grandstand at Sandown was being built.
After launching his challenge up the centre of the course in the straight he veered right towards the inside rail, hampering Sharp Edge (winner of the Irish 2,000 Guineas) and Toujours Pret (Prix d'Harcourt).
[7] After being several lengths behind the leaders on the turn into the straight, Moulton made steady progress along the inside rail before being switched right to make his challenge in the last quarter mile.