Climber carrying gold and banned commodity (5)
I believe the answer is:
ivory
'banned commodity' is the definition.
Although both the answer and definition are singular nouns, I can't see how they can define each other.
'climber carrying gold' is the wordplay.
'climber' becomes 'ivy' (I've seen this before).
'carrying' means one lot of letters goes inside another.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'ivy' placed around 'or' is 'IVORY'.
'and' is the link.
Can you help me to learn more?
(Other definitions for ivory that I've seen before include "Creamy colour" , "Cream" , "Like the tower" , "pasty" , "Yellowish white - material from tusks" .)