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D, E and F color diamonds are considered colorless. Meaning that they have no yellow tint. They are the rarest and as such most valuable. Even though the difference in coloration between D & E (and even D-F) color diamonds is impossible to see (unless compared).

Since the colorless family of diamonds is of the highest quality (color wise), it doesn't matter if you are mounting it in white gold or platinum, what setting you are using or what diamond shape you chose - they would look perfect.

The GIA defined diamonds graded between G-J as near colorless diamonds. However, while most people won't notice the difference unless compared one next to the other, in this case I would draw a line in the middle and differentiate G-H from I-J – because theory aside – when it comes to an jewellery, it does matter.

These diamonds already possess visible yellow tint. And by visible I mean slight yellow coloration that you can note with the naked eye with no special expertise even without comparing to another color diamond.

These diamonds already have a very notable color. The color may be either a yellow or even brown tint. Some of these diamonds are often referred in the industry in short as "top light brown". There is very little demand for these diamonds and their prices are extremely low - probably the lowest in the industry.

The group of diamonds with colors ranging from S to Z is called Light Color Diamonds. Interestingly, these Light color diamonds (mainly beyond the U color) are in more demand than the Very Light color diamonds mentioned one grade above. Note that these are not considered fancy colored diamonds. However, since yellow diamonds intensity grading officially starts with fancy light often the U-X and Y-Z color diamonds are considered faint yellow and light yellow replacements.