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Diamond's hardness and high dispersion of light – giving the diamond its
characteristic "fire" – make it useful for industrial applications and desirable as jewelry.
Diamonds are such a highly traded commodity that multiple organizations have been
created for grading and certifying them based on the four Cs, which are carat, cut,
color, and clarity. Other characteristics, such as shape and presence or lack of fluorescence,
also affect the desirability and thus the value of a diamond used for jewelry.