Semi-transparent gemstone (4)
I believe the answer is:
opal
'semi-transparent gemstone' is the definition.
(I've seen this before)
This is all the clue.
(Other definitions for opal that I've seen before include "Delicately-coloured gem" , "Milky-white gemstone with flashes of colour" , "Milky white gem" , "Precious stuff" , "Milky-white gem" .)