The race was suspended after Golding slammed into the wall when he experienced a punctured tire after contact with Jack Perkins as they headed towards the first turn.
Golding, who was making his Supercars debut as co-driver to Volvo's James Moffat, was traveling at 150 km/h when he hit the fence.
The race was immediately suspended as Golding was taken away by medical officers. He later returned to the garage and suffered no major injuries.
It was a dramatic start to the opening round of the Pirtek Enduro Cup which this year also doubled as `Retro Round', celebrating the heritage of Australian touring car racing.
The race was held up for 25 minutes before re-starting minus the Moffat/Golding Volvo.
The Holden Racing Team has put its recent woes behind it with a thrilling win in the Wilson Security Sandown 500 today.
Garth Tander narrowly held off Red Bull Racing Australia's Shane van Gisbergen in a nail biting finish to bring up the team's first win since the season opener at Clipsal 500 Adelaide.
With Warren Luff on board as his co-driver, it was Tander's first ever win at Sandown and the second closest ever Sandown 500 with just three-tenths of a second separating first and second.
Van Gisbergen did his best to run down Tander in the final laps as HRT pushed to the finish with a broken left guard hanging off the car. Tekno's Will Davison and Jonathan Webb finished in third place to round out the podium.
Van Gisbergen and co-driver Alex Premat's second place has catapulted Van Gisbergen to the top of the Virgin Australia Supercars Championship table ahead of teammate Jamie Whincup with Craig Lowndes in third place.
The race was shortened to 143 laps after a huge crash involving rookie James Golding on the opening lap forced the race to be suspended.
1. Garth Tander/Warren Luff (143 laps)
2. Shane Van Gisbergen/Alexander Premat + 0:3485
3. Will Davidson/Jonathon Webb + 14.7574
4. Scott McLaughlin/David Wall +15.9156
5. Chaz Mostert/Steve Owen + 16.3113
6. Fabian Coulthard/Luke Youlden + 22.6739
7. Todd Kelly/Matt Campbell + 25.8458
8. Craig Lowndes/Steven Richards + 33.3303
9. Nick Percat/Cameron McConville + 36.1446
10. Rick Kelly/Russell Ingall + 37.5299
11. James Courtney/Jack Perkins + 38.3595
12. Lee Holdsworth/Karl Reindler + 43.0615
13. Jamie Whincup/Paul Dumbrell + 43.0685
14. Michael Caruso/Dean Fiore + 48.7903
15. Scott Pye/Tony D’Alberto + 1 lap
16. Tim Slade/Ash Walsh + 1 lap
17. Chris Pither/Richie Stanaway + 1 lap
18. Dale Wood/David Russell + 1 lap
19. Andre Heimgartner/Aaren Russell + 1 lap
20. David Reynolds/Craig Baird + 2 laps
21. Tim Blanchard/Macauley Jones + 2 laps
22. Jason Bright/Andrew Jones + 2 laps
23. Shae Davies/Chris Van Der Drift + 2 laps
24. Mark Winterbottom/Dean Canto + 5 laps
25. Cameron Waters/Jack Le Brocq – DNF
26. James Moffat/James Golding – DNF