A decision on Golden Slipper winner Capitalist's return will be left until race day as persistent rain falls in Sydney.

The prized colt has drawn barrier three in Saturday's Group Two Missile Stakes (1200m) at Randwick, but co-trainer Peter Snowden said in the event of a heavy track Capitalist could be scratched.

"If we keep getting rain all week I'll have to have a think about it," Snowden said.

"If the weather picks up it will be no problem, he'll run."

Capitalist has not raced on a wet track in his five starts, but won two barrier trials in July on soft going at Randwick's Kensington track.

"Whether he can handle the bog track is the unknown," Snowden said.

"His two trials this time in have been on soft and he's got through that quite well so maybe he can handle it."

Rain continued to tumble in Sydney on Wednesday, with 25mm falling at Randwick until 9am and a further 19mm to 3pm.

Capitalist's first run since his Golden Slipper triumph will be at weight-for-age with the three-year-old colt to carry 51.5kg in the race.

That means regular jockey Blake Shinn will not be able to take the ride, with Kerrin McEvoy taking the mount.

"He gets the weight pull and that will be to his advantage on a heavy track," Snowden said.

"On the other side of the coin you don't want to have a gut buster first-up either."

Capitalist is the solid $1.40 favourite for the race while Group One winner Rebel Dane, drawn in barrier two, is a $4.60 chance and will carry 58.5kg.

The Snowdens' other runner Tycoon Tara is having her first start for the stable after being transferred from Bendigo trainer Symon Wilde.

Snowden says Tycoon Tara is a handy mare on her day but believes the Missile field will be too sharp for her.

"She has beaten some pretty handy horses in previous wins," Snowden said.

"There might be a race for her later on in the carnival."