Phelps Wins First Gold In Beijing, Sets New World Record In 400IM

09/09/2008 05:12 am ET | Updated May 25, 2011

BEIJING — Michael Phelps set a world record Sunday to win his first gold medal of the Beijing Olympics, beating rival Ryan Lochte in the 400-meter individual medley with a time of 4 minutes, 3.84 seconds.

Phelps, trying to break Mark Spitz's record of seven gold medals, crushed his old mark of 4:05.25 in the 400 IM, set in June at the U.S. Olympic trials.

Laszlo Cseh of Hungary rallied to take the silver medal in 4:06.16, while Lochte faded to the bronze in 4:08.09.