Russian siblings Natalia Soboleva and Andrey Sobolev provided the opposition in the big final but despite the home support the Austrian duo prevailed.
Ulbing first put Austria in front as she finished 0.33 seconds ahead of Soboleva, with Karl then also went quicker than his opponent.
In-form Pellegrino kicks off New Year with sprint success
In the small final, the Swiss pair of Julie Zogg and Dario Caviezel won bronze by defeating Italy's Nadya Ochner and Aaron March.
Kilde completes Val Gardena double with Downhill victory
Petra Vlhova leads the way after first run