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Rubies can command the highest per-carat price of any colored stone. This makes ruby one of the most important gems in the colored stone market. In its purest form, the mineral corundum is colorless. Trace elements that become part of the mineral's crystal structure cause variations in its color. Chromium is the trace element that causes ruby's red color.
Ruby is the birthstone for July and the gem for the 15th and 40th anniversaries.
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