The 50 year old Englishman, second in this event last year, carded a quite brilliant five under par 66 to overhaul Woosnam’s six-shot advantage over him and collect the first prize of £37,500.
While Golding shone in the blustery and at times miserable conditions at Royal Porthcawl Golf Club, Woosnam and the rest of the field struggled to find rhythm and momentum.
The former Masters Champion was battling throughout the day but his title bid came unstuck with a double bogey at the ninth after losing a ball. Just as Woosnam was making a six, Golding was picking up his fifth birdie of the day on the 11th to move one clear of the Welshman.
Another birdie on the 15th pushed Golding further ahead and moments later his two-shot lead was extended to four as Woosnam made another double bogey, this time on the par five 13th.
That allowed Golding a relatively straightforward finish, and he played his last three holes in one over to secure a two shot win and the first victory of his European Senior Tour career.
“I am delighted to have won the Speedy Services Wales Open,” said Golding, who moves to the top of the Senior Tour Order of Merit.
“I have to admit that I didn’t play at my best today in terms of ball striking and of the tee, but my short game was really on early in the round and I made some really important par saves early on to stay in the tournament.
“Then the putter got pretty hot at points and I managed to make a few birdies and keep the mistakes to a minimum.
“Obviously I have kind of spoiled Woosie’s party here in his homeland but I am sure he won’t hold it against me too much – he has had a lot more success in his career than I ever will and I am just so happy to get my first Senior Tour win.”
For Woosnam, it was a day of disappointment having led after the first two rounds in his homeland.
The 55 year old posted a four over 75 to eventually finish the day in a tie for third alongside defending champion Barry Lane and former PGA champ Andrew Oldcorn on one over, with DJ Russell taking solo second spot thanks to his level par 71.
Woosnam said: “I just couldn’t get any momentum going at all today. It was tough in those conditions and I think yesterday really knocked all the rhythm out of my swing. The wind was so strong yesterday and then today the conditions were tough and I just couldn’t get it going.
“I was still in it after the double on the ninth and I was trying to get back up that leaderboard but I just couldn’t find the momentum today. You have to take you hat off to Phil though – to shoot 66 in the final round in those conditions was pretty special and he deserves his win all right.”
Couldn’t have said it better ourselves Woosie.