Olympic heartbreak for Great Britain men's rugby sevens skipper Mitchell
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GB, who were without their talismanic Cuckfield-born captain due to injury, lead inside 30 seconds thanks to Ben Harris.
A fired-up Argentina levelled through Lautaro Bazan Velze before Marcos Moneta went over to give the South Americans the lead.
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Hide AdOllie Lindsay-Hague was on the scoreboard for Great Britain after the break, but Ignacio Mendy ran in what proved to be the winning try late on.
GB, who had been beaten by New Zealand earlier in the day in the semis, could not match their silver medal achieved at Rio in 2016.
The Kiwis were defeated 27-12 by reigning Olympic sevens champions Fiji in the gold medal match.
The Fijians have won both men's tournaments since rugby sevens was added to the Games in 2016.
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Hide AdFormer Worth School head boy Mitchell will look to bounce back at the 2022 Commonwealth Games in Birmingham, where he will compete for England rugby sevens, but the Olympic team's central contracts were ended last August due to the financial impact of Covid on the Rugby Football Union.
Posting on Twitter, he said: "We are desperately disappointed right now. But we also know we have done something incredibly special.
"Coming this far is testament to the people involved in the journey. I hope for future 7s players in Britain there is a programme fit for the passion of these types of people.
"Massive congratulations to @fijirugby on their second gold medal. The nation where 7s shines brightest!"
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