A gong that may merely clink (5)

I believe the answer is:

medal

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'a gong' is the definition.
(gong can mean a prize or medal)

I cannot understand how the remainder of the clue works.

(Other definitions for medal that I've seen before include "Lamed (anag)" , "What an Olympic Games winner gets" , "Military award" , "eg VC" , "Religious or commemorative award" .)

I've seen this clue in the Evening Standard.

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