Gold Middle East strip inspires new fabric (7)
I believe the answer is:
organza
'fabric' is the definition.
(I know that organza is a type of fabric)
'gold middle east strip inspires new' is the wordplay.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'middle east strip' becomes 'gaza' (I've seen this in another clue).
'inspires' is an insertion indicator (inspire means to breathe in).
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'gaza' placed around 'n' is 'ganza'.
'or'+'ganza'='ORGANZA'
(Other definitions for organza that I've seen before include "Thin material" , "Silk (or silk-like) fabric" , "Thin stiff natural or synthetic fabric" , "Silky fabric" , "Transparent silky material" .)