Outwardly the dinner gong? (5)

I believe the answer is:

medal

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

I don't understand the remainder of the clue.

(Other definitions for medal that I've seen before include "Metal disc awarded as prize, say in Olympics" , "Metal disc given as award" , "Decorative award" , "Piece of metal as award or in commemoration" , "Prize disc for as for Olympic Games win" .)

I've seen this clue in the Evening Standard.

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