Gold stored in new local plant part (7)
I believe the answer is:
corolla
'plant part' is the definition.
(corolla is a kind of plant part)
'gold stored in new local' is the wordplay.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'stored in' means one lot of letters goes inside another.
'new' indicates anagramming the letters.
'local' is an anagram of 'colla'.
'or' placed inside 'colla' is 'COROLLA'.
(Other definitions for corolla that I've seen before include "Whorl of flower petals" , "part of plant" , "Flower's petals collectively" , "bit of a bloomer" , "Internal whorl of a flower" .)