Outteridge and Jensen won five of the 15 preliminary 49er (skiff) races contested off the southern British shoreline and had a 33-point lead over New Zealand heading into Wednesday's medal race.
Since New Zealand could make up no more than 18 points in the final race, the Australians had the gold medal wrapped up before the day's sailing began. They eventually fifth finished among the 10 boats in the final.
New Zealand's Peter Burling and Blair Tuke also had the silver medal clinched prior to the race and they finished second to Austria in the final sail.
In the battle for the bronze medal, Denmark had only a one-point advantage over the boat from Finland starting out Wednesday but Denmark finished third in the medal race while the Finns were 10th.
Danes Allan Norregaard and Peter Lang thus claimed the bronze.
The gold for Australia was its second at the sailing venue among the first seven classes completed. Australia is the first country to win more than one sailing gold medal at the Olympics.