Reliable Tory trading gold for iron oxide? (6)
I believe the answer is:
trusty
'reliable' is the definition.
(similar in meaning)
I cannot understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for trusty that I've seen before include "Staunch" , "Reliable, faithful" , "Dependable" , "Trainee officer" , "Reliable, honest and firm" .)