Glover and Stanning have been in good form all year and they have put together a series of great races to qualify for the final and they were the favourites for gold ahead of the race.
And the pair did not disappoint as they powered out of the starting block and they were soon putting distance between themselves and the rest of the field.
The crowds had packed into Eton Dorney for the first day of finals in the rowing and the fans roared the British pair home.
With 500m to go they were virtually a length clear and the gold was theirs as current world champions New Zealand were well of the blistering pace that they had set.
Glover and Stanning stormed home in seven minutes 27.13 second to not only win the first GB gold but they became the first British women to win a rowing Olympic gold.
Speaking to the BBC after the race Glover said: "We kidded ourselves that there was no pressure. The last thing we said to each other was 'it's just for us, it's just for us', but it was for the whole of the team and the whole of the country.
"Now we've finished we can say there was pressure; there was expectation. We hope this is the start of things to come from the Great Britain team. It's just brilliant.
"I hope the crowd really enjoyed today."
Australia's pair of Kate Hornsey and Sarah Tait took the silver while Juliette Haigh and Rebecca Scown of New Zealand took the bronze.
And there was a second medal for Team GB just minutes later as the men's eight took the bronze in what was a fantastic race.
World champions Germany were the favourites for the gold ahead of the race but the GB squad took it to them - they were ahead at the halfway point.
Alex Partridge, James Foad, Tom Ransley, Ric Egington, Constantine Louloudis, Mo Sbihi, Greg Searle, Matt Langridge and cox Phelan Hill were also roared on by the crowd and when they edged ahead the crowd went wild.
But the German's hit back and the British squad began to tire. In the closing stages of the race they were unable to hold off the Canadians and had to settle for a bronze.
FemaleFirst Helen Earnshaw