Expensive or beloved (4)
I believe the answer is:
dear
I believe this is a double definition.
'expensive' is the first definition.
(similar in meaning)
'beloved' is the second definition.
(I know that beloved can be written as dear)
(Other definitions for dear that I've seen before include "At a high cost" , "Costly (but loved!)" , "pet > ducks" , "Expensive or loved" , "close" .)