GOLD Coast psychic Konnie Gold has defied the odds and accurately predicted the Melbourne Cup winner for the second year in a row.

Ms Gold said she had a feeling Americain, her winning pick from last year, would take out the title until a dream two nights before the race changed her mind to Dunaden.

"I was feeling like Americain would win, but then I had a dream that told me Dunaden would win," Ms Gold said.

"I don't know anything about horse racing or jockeys, but in my dream I saw two Ds crossing the finish line and my husband got the paper and said it must be Dunaden.

"Last year was the first time I had predicted the winner, when The Daily News asked me. I had never thought about it before.

"I'm happy to show that psychics can be accurate. Once can be a fluke, but twice is not."

The co-founder of the Australian Psychic Expo said before the race Dunaden had special meaning to her.

"Dunaden's colour is yellow and my last name is Gold, so I thought that was a sign," she said in yesterday's Daily News.

"It also has stars and my granddaughter's name is Star, so that is another sign."

Ms Gold said she had no plans to use her powers to profit from the horse racing industry in the future.

"I won't be telling other people the winner or making money off it. I will only tell The Daily News for the story," she said.

"I don't even play the pokies or anything like that.

"I just did it because people always say to me 'if you are a psychic then why don't you predict the Melbourne Cup winner?', and I say to them 'I did last year'.

"Now I can say I've done it again."