Olympic prize (5)
'olympic prize' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for medal that I've seen before include "Award for achievement" , "Decoration for a soldier perhaps" , "Sports award" , "eg VC" , "George Cross, for instance" .)
(Other definitions for gold medal that I've seen before include "Victor may get one" , "Possible alternative to cup" , "top award" , "prize for winning" , "Award for Olympic winner" .)