Page, who won the same class in Beijing four years ago with Nathan Wilmot – the pair also won five world titles together – described the final day's racing as "a great way to go out" as the Australian sailing gold medal count moved up to three, thus bettering the performance at the 2000 Sydney Games of two golds, a silver and a bronze.

British sailors added two silvers to the home stockpile as Hannah Mills and Saskia Clark took second place to the New Zealand pair of Jo Aleh and Olivia Powrie in the women's 470 class.

"I have gone through highs and lows over 15 years," said Page.

"I knew at the start of these four years that it would be my last campaign.

"These last four years have been the most rewarding of my sailing career and the results that we achieved along the way have been great.

Malcolm Page (left) and Matthew Belcher celebrate their 470 class success

"It is an incredible feeling, a great way to go out – I'm very happy with my career.

"To come away with three golds is all our dreams come true.

"Australian sailing is going from strength to strength."

The British men's duo were guaranteed at least a silver medal and went into their final race needing to beat Belcher and Page with one boat between them to take gold.

But after leading around the first mark they were passed by the experienced Australian campaigners, who stayed clear to secure the title, with Argentina finishing third to take bronze.

Patience and Bithell, who teamed up in 2009 and shortly afterwards finished runners-up at the World Championships in Denmark, were also second to Belcher and Page at the World Championships in Perth in December 2011.

Jo Aleh (left) and Olivia Powrie also claimed 470 class victory

"To stand on an Olympic podium, it's not gold, but we're young boys and we'll be back," said helm Patience, who turned 26 on August 4.

"We're happy, happy boys.

"What a place; we're in paradise – it's so cool.

"It's not gold, but there's plenty of time, and we're coming back and we mean business next time."

Bithell, who will be 26 on August 28, added: "We got the better of them at the start and just managed to sneak ahead, but unfortunately they sailed a fantastic race.

"They're worthy champions, but we're happy with second."

Page added: "Bad luck, bad decisions or bad things that came our way – we just had to keep on fighting.

"So when it came to the medal race situations we knew we had the experience and know-how to get through."

Mills and Clark were already assured of a podium place and shared the lead going into the medal round in which points are doubled.

Team GB 470 class silver medallists (from left) Saskia Clark, Hannah Mills, Luke Patience and Stuart Bithell

But the British pairing's golden hopes disappeared when the wind shifted onto the opposite side of the course in the first leg and they finished the medal race next to last.

The Netherlands pair of Lisa Westerhof and Lobke Berkhout held off a number of boats to take the bronze medal.

Mills, 24, and Clark, 32, only paired up in February 2011 when the latter was left without a helm after double gold medallist Sarah Ayton retired.

The pair were World Championship runners-up in Perth in December 2011 and later won the 2012 World Championships in Barcelona in May.

"We just feel a bit gutted at the moment that we didn't put on a big show," said Clark.

Gold medallist Aleh commented: "It's not going to sink in for a while, but it's pretty cool.

"Yachting's been struggling for a while at home and no woman has ever won a gold in a sit-down boat."

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