colors of item names

I've been reading different threads and people keep saying i found an item and its name was this color or this color. My question is, what are the colors and what do they mean.

thanks,
Sheepdog5590

its something like

white = normal item
blue = magic item
purple = rare
gold = even more rare (unique)

gold usually being the best, but some times you can find a speacial item with no added attributes, but i have only seen or heard of this with purple items

The colors are how rare an item is. As you play the game u start to get items that are purple and so on. Basic items do not have color rare ones are purple, blue ones rare but not so much. never come across a gold one yet. but im only 16.

The colours reflect how many mods an item can have.. For example.

White - 0
Blue - 0-1
Purple - 0-2
Gold - 0-3

I've seen Red items as well.

Until I see a screenshot with a red item, I'm not going to believe you. Doctored screenshots don't count