The gold for Canada marked the country's first in the sport since 1998.
Skipped by Jennifer Jones, who took to the rink appropriately wearing golden eye shadow, Canada ended Sweden's hopes of a third successive Olympic title.
Sweden's team was made up of Maria prytz (Vice-Skip), Christina Bertrup, Maria Wennerström, Margaretha Sigfridsson (Skip), Agnes Knochenhauer and was coached by Fredrik Hallström.
Canada also matched the achievement of compatriot Kevin Martin's men's team, who won the title in 2010 by going through the tournament undefeated.
Earlier, Britain defeated Switzerland 6-5 to take the bronze medal.
The silver marks Sweden's sixth of the games, to go with two golds and four bronze medals. At the time of writing, this is enough to rank Sweden 12th overall.