Having defeated Spain 103-63 in the preliminary round, the US were strong favourites coming into the gold medal match and did not disappoint, taking control of the game in the second quarter and not letting their opponents back in.

Diana Taurasi and Lindsay Whalen scored 17 points apiece for the Americans, gold medallists for the eighth time in 10 appearances.

Victory extended America's Olympic winning streak to 49, dating back to the bronze-medal match at Barcelona 1992.

It also brought a fourth consecutive Olympic gold medal for Taurasi, captain Sue Bird, and Tamika Catchings.

"It's not about one person, one coach, it's about, 'How can we make this the best basketball team ever?'" said Taurasi.

Spain were able to stay close in the first quarter and trailed by only four points going into the second, 21-17 down. 

The US stepped up their defensive intensity and shooting percentage in the second quarter, however, and had built a half-time lead of 17 points that was extended to 29 by the end of the contest. 

Spain's silver medal was their first Olympic medal of any colour in women's basketball.

Earlier, Serbia used a third-quarter shooting barrage to beat France 70-63 and claim the bronze medal.

In a repeat of last year's EuroBasket final, also won by Serbia, a tense, back-and-forth game was emerging midway through the third quarter until Serbia pulled away with an unanswered 16-point run that turned a three-point deficit into an unassailable 13-point lead.

Serbia's top scorer was Jelena Milovanovic, with 18 points. 

"We showed that when it is the hardest we are the strongest," said star guard Ana Dabovic.

Prior to tomorrow's men's gold medal match, Australia will meet Spain in a battle for bronze.