Gut posted a time of 1:22.86 to beat Tina Weirather of Liechtenstein by a mere three one-hundredths of a second. Anna Fenninger of Austria won the bronze medal with a time of 1:23.19.
Gut and Weiarther are the best female alpine skiers in the world right now, with the 2014 Olympic Winter Games in Sochi just two months away.
It has been an excellent start to the season for Gut, who won the women's downhill and super giant slalom World Cups in Beaver Creek, Colorado on November 29 and November 30 respectively, and also the women's giant slalom World Cup in Soelden, Austria on October 26.
It has also been a great start for Weirather, who has finished on the podium four times this season. Weirather has finished in second place in women's World Cup downhills in Lake Louise and Beaver Creek, and won a bronze medal in a women's World Cup super giant slalom in Beaver Creek.
Weirather is trying to follow in the footsteps of Hanni Wenzel, Willi Frommelt, Adreas Wenzel, Ursula Konzett and Paul Frommelt, who have won medals for Liechtenstein in alpine skiing at the Olympic Winter Games. Among the five skiers, Hanni Wenzel is the only skier to have won Olympic gold, having won the women's slalom and women's giant slalom at the 1980 Olympic Winter Games in Lake Placid. Paul Frommelt meanwhile was the last Liechtenstein Olympian to medal at an Olympic Winter Games. He won the bronze medal in men's slalom at the 1988 Olympic Winter Games in Calgary.