1. A GPS receiver, comprising an antenna to collect a GPS signal that is a composite signal comprising a contribution from each GPS satellite in view of the receiver; a signal conditioning processor to amplify, filter and downconvert the GPS signal to baseband; an A/D converter to digitize the GPS signal at a predetermined sample rate; a memory to store a portion of the GPS signal; an FFT process to convert the portion of the GPS signal stored in the memory to the frequency domain; a multiplier for multiplying the frequency representation of the stored GPS signal with a frequency representation of a Gold code associated with one of the GPS satellites in view of the GPS receiver and for storing the result in the memory as a product; an inverse FFT process for converting the product to the time domain as a convolution; and a peak detector to find a location of a peak in the convolution, the location of the peak being an estimate of the Gold code phase.