As no fencer had won more than one World Cup or Grand Prix event this year the medal positions were viewed as being wide open ahead of the competition in Carioca Arena 3.

Szasz, 12th at Beijing 2008 and 25th at London 2012, took full advantage to come through the field and reach the latter stages of the event.

The 33-year-old from Budapest secured a spot on the podium after defeating France’s Lauren Rembi 10-6 in their semi-final contest.

The Hungarian, seeking to follow in the footsteps of her compatriot and two-time Olympic champion Timea Nagy, faced a stern test in the gold medal tie.

Fiamingo, the two-time world champion, ended the challenge of China’s Sun Yiwen by narrowly winning 12-11 in their semi-final tie.

The 25-year-old began the final as the more dominant fencer but Szasz remained in touch throughout the duration of the contest.

After beginning the final three minutes of the tie one point down at 12-11, Szasz then secured four points to her rival’s one to claim a 15-13 triumph.

"I'm very happy, I don't believe it at the moment, maybe in a few days I will,” Szasz, a two-time World Championship silver medallist, said. 

"I believed in myself and my fencing, and I did it.

"[I felt that I won] only at the end when I made the last touch."

With Fiamingo finishing as the silver medallist, Italy’s wait for a 200th Summer Olympic gold medal has been extended.

China celebrated winning the bronze medal, Sun clinching a 15-13 win over Rembi.

Fencing competition is due continue tomorrow with the men’s individual foil event, where China’s Lei Sheng will strive to defend his title from London 2012.

Yuki Ota of Japan could become the first reigning world champion to win the Olympic foil titles should he triumph and world number one Alexander Massialas will hope to be the first America to claim the crown.