American Phelps wins Men's 100m Butterfly Olympic gold

Michael Phelps waves to spectators. (Photo credit: Shaun Botterill/Getty Images)

American Michael Phelps won the Men's 100m Butterfly gold medal at the Beijing Olympic Games here on Saturday.

Phelps clocked in an Olympic record of 50.58 seconds set up by Serbian Milorad Cavic on August 14, 2008. Cavic settled for the silver in 50.59 and Australian Andrew Lauterstein got the bronze in 51.12.

(L-R) Milorad Cavic, Michael Phelps and Andrew Lauterstein (Photo credit: Ezra Shaw/Getty Images)

Michael Phelps competes. (Photo credit: Ezra Shaw/Getty Images)

Michael Phelps celebrates. (Photo credit: Wang Dingchang/Xinhua)

Michael Phelps celebrates. (Photo credit: Ezra Shaw/Getty Images)

Gold and Bronze for Austraila in 100 m Women's Butterfly

On the third day (11th August 2008) of the Beijing Olympics, Australians are in for a cheer as Lisbeth Trickett finished the Women’s 100m Butterfly with 56.73 seconds to secure a gold. Jessicah Schipper, another Australian, took bronze with 57.25 seconds. Christine Magnuson of the United States was silver with 57.10 seconds.

The hope for the second Olympic medal in Singapore’s history was dashed as Tao Li of Singapore finished the fifth in the race with 57.99 seconds.