Answer
There is no reason to be concerned with multicollinearity.
Work Step by Step
In MINITAB, enter the Carat values in C1, the Color values in C2, the Clarity values in C3, the Cut values in C4 and the Price values in C5.
Select Stat -> Basic Statistics -> Correlation
In variables enter C1 C2 C3 C4 C5. You may deselect "Display p-values"
Click OK.
Since any of the correlations between the explanatory variables are not greater than 0.7 or less than -0.7, there is no evidence that multicollinearity exists.
