State's gone bust supporting gold (6)
I believe the answer is:
oregon
'state's' is the definition.
(Oregon is an example)
'gone bust supporting gold' is the wordplay.
'bust' is an anagram indicator.
'supporting' means one lot of letters go next to another (in a down clue, some letters go below others).
'gold' becomes 'or' ('or' is the heraldic name for gold**).
'gone' anagrammed gives 'egon'.
'egon' after 'or' is 'OREGON'.
(Other definitions for oregon that I've seen before include "No gore in this western American state" , "US region" , "Salem's state" , "West coast US state" , "State near Washington" .)