The 5-2 second favourite shook off an early mistake to record a fifth victory in the Boxing Day spectacle for trainer Francois Doumen.

Ridden by Doumen's son, Thierry, First Gold settled in fourth place as Edredon Bleu set a good pace from Beau and See More Business.

The French raider then crept closer as the field entered the back straight for the second time and took over from Edredon Bleu with five fences to jump.

Travelling strongly he soon had a clear lead, with Irish star Florida Pearl seemingle the only danger as Mick Fitzgerald sent out distress signals on See More Business.

But a mighty leap from First Gold at the penultimate fence put the race beyond doubt and he bounded clear to defeat Florida Pearl (11-2) by 10 lengths, with 33-1 outsider Bellator 11 lengths further back in third.

"He was incredibly intelligent," said Thierry Doumen. "He's a very talented jumper and he understood straight away that he shouldn't play with the fences too much.

"He's a natural galloper and you saw how good he was today.

"I'm very happy he did it the way he always does it because it means he is the best horse in Europe."

The big disappointment was 6-4 favourite See More Business.

Winner in 1997 and 1999, the mount of Mick Fitzgerald failed to go the pace after mistakes on the final circuit and finished a remote fifth.

Flagship Colm's trainer, Rodney Baker, was unable to witness the victory nursing an injury he sustained when unloading the horse from the lorry.

"He's got hurt and he down in the stable yard," said Slattery. "But I'm sure he's got a smile on his face now."

Wednesday's meeting at Kempton is under threat from the weather, prompting track officials to hold an inspection at 7.30am.

"They reckon it will get down to -2C tonight so one has to take precautions," said Kempton's clerk of the course Brian Clifford.

"They are forecasting temperatures going back to +3C or +4C during the day but we have to be cautious."