American Michael Phelps just did defeat Ryan Lochte Thursday night in London for the gold medal in the men's 200 meter individual medley swimming event. Phelps' time was 1:54.27. It was his second gold medal of these Olympics and fourth overall in London. It was his first individual gold in London. Phelps now has 20 medals over his career, an Olympic record. Lochte's run in London is now finished. He won silver.