Risi Pouri-Lane put New Zealand ahead but Canada scored twice to turn the game around.
The Black Fearn Sevens, however, hit back early in the second half to retake their lead. Stacey Waaka’s try sealed the deal for the now twice Olympic champions.
Bronze went to the United States, who defeated Australia 14-12.
Rugby sevens was introduced as an Olympic sport at Rio 2016, when Australia took gold.
In the men’s event, hosts France ended the dominance of twice gold winners Fiji.
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