In Islam, Muslim men are permitted to wear platinum rings as long as there is no extravagance or temptation. Muslim men are also permitted to wear diamonds and precious stones, but they are not recommended to wear them for the purpose of arrogance or superiority over others.
The Islamic Religious Council of Singapore, states the following: It is permissible for Muslim men to wear diamond on their platinum rings as the prohibition applies to gold and silk.
`Abdullah ibn `Amr ibn Al-`Aas reported that the Messenger of Allah (peace and blessings be upon him) said, “If anyone from my Ummah wears gold and dies wearing it, Allah will deny him the gold of Paradise. If anyone from my Ummah wears silk and dies wearing it, Allah will deny him the silk of Paradise” (Ahmad).