I recently bought a Nikon 50mm 1.4d lens online. When it arrived I noticed colored streaks in the front element of my lens, but couldn't wipe them away with a cloth. Is there any way to get rid of these and will these streaks have any adverse affects on my photo quality or other aspects? Thanks.
Sorry to report, this looks like a separation of the optical glue used to cement together two optical elements. Camera lenses are complex arrays of multiple glass lenses. Some of these are spaced apart, some are cemented together. The cement used is water clear however age or a damaging blow can cause the cemented lens elements to separate. Repair will likely be too expensive so best you chalk this up as a loss. This separation will degrade the optical quality of this lens.
It does look like it will affect the image, the least of it would be increased glare/unwanted réfections
Like Alan Marcus said it could be lens balsam separation, which is a very, very, hard issue to solve. It might also be an inner oil leak from an over-eager lubrication job, or old leaky blades, which is easier to fix but still requires you to be able to dismantle, clean, and reassemble the lens which requires some knowhow, tools, time, and the risk of rendering the lens unusable.
In either case, you should try returning the lens if it is possible, instead of a partial refund, if the lens wasn't sold as "Parts/as is" which IMO it is (defective that is)
example of balsam separation  1