The red variety of corundum owes its color and strong fluorescence to the presence of Cr, as well as traces of Fe. The latter can reduce the fluorescence and thus impact the appearance of the final gem. Gem quality rubies are rarely available for scientific study and even less common in their rough form. Opaque inclusions in rubies are often removed during faceting and remain unidentified. This study aims to identify opaque inclusions in rubies from the two most common origins seen in the high end market today: Mogok, Myanmar and Montepuez, Mozambique. Using electron probe microanalaysis (EPMA) the inclusions were identified as sphalerite and pyrrhotite in Mogok rubies. The paragenesis of Myanmar, marble-related rubies is fairly well understood and no Fe-rich minerals apart from sulfides have been identified. Opaque inclusions in Mozambican rubies are a complex mix of Fe-Cu-Ni sulfides with exsolution textures. These inclusions are interpreted to be small amounts of sulfide melt trapped during corundum formation. The different sulfide phases crystallized from this entrapped melt and some phases experienced later exsolution during cooling. The formation of amphibole-related, Mozambican rubies is not well understood, but it is obvious that very different processes are at work compared to the marble-related Myanmar ruby deposits.