Australia's speed king Ryan Bayley has won his second gold of the Olympics and teammate Shane Kelly won the bronze in track cycling's keirin.

Bayley proved he is the fastest cyclist in the world when he won the sprint gold and his explosive speed took him to a comprehensive win in the keirin.

Spain's Jose Escuredo won the silver and Germany's Rene Wolff was initially thought to have edged Kelly out for bronze.

But the German was later relegated and Kelly promoted to third.

Kelly already had two fourth-placed finishes in these Games after missing the medals in the 1000m time trial and team sprint.

Bayley's win came minutes after Graeme Brown and Stuart O'Grady combined to win the madison race and took Australia's cycling tally in Athens to a staggering six gold medals.

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