Goggia, who has won the last two years of the Downhill Cup, took a tight line down the hill in a snow-filled, sun-sparkling Lake Louise.
She was quite satisfied with her ride and exclaimed: "Only for the brave" twice before she sat in the leader's chair.
At the start of the competition, it was minus 28 degrees, according to Viaplay.
Swiss ace Corinne Suter came close to snubbing Goggia for victory, leading after the first four splits, but narrowly losing ground in the final two splits, gaining a paltry four hundredths to Goggia's satisfaction.
Late starter Cornelia Hütter, no. 20, was about to shake up the tight duo when she crossed the finish line in third – just six hundredths from victory.
The queen of Lake Louise is Lindsey Vonn who won 18 races on the hill, which made it come to be known as "Lake Lindsey".
No Swede participated in the competition.