It should be clear that there is nothing wrong in men wearing a silver ring. But if the ring is made of gold, men are not allowed to wear it. At-Tirmidhi related through the authentic chain of narration that the Prophet (peace and blessings be upon him) said: “Wearing gold is forbidden for male Muslims, but it is allowed for female Muslims.”
According to the hadith narrated by Muslim, the Prophet forbade men from wearing gold rings. It is also narrated that when the Prophet, peace be upon him, saw a man wearing a gold ring, he immediately removed it from the man’s hand and threw it away. He then said: “Wearing it (a gold ring) is like wrapping one’s hand with fire brand”.
As for wearing a ring on which the Shahadah, one of Allah’s names or a Qur’anic verse is written, it is permissible, but one has to take it off when entering the bathroom or impure places, which are not suitable for Allah’s name to be taken in.
In this regard, Sheikh `Atiyya Saqr, former head of Al-Azhar Fatwa Committee, states that: “Anas (may Allah be pleased with him) is reported to have said: ‘On entering the bathroom, the Prophet (peace and blessings be upon him) used to take off his ring.’ It is well-known that the Prophet’s ring was having the words ‘Muhammad is the Messenger of Allah’ engraved on it. The simple reason for this is that the bathroom is a place not suitable for the Name of Allah to be taken into. Thus, one is not allowed to enter the bathroom while wearing a ring or anything else that contains Allah’s Name.
As for entering the bathroom with an object on which a verse from the Qur’an is written, the Shafi`i and the Hanafi scholars say it is reprehensible while the Maliki and the Hanbali scholars hold it as haram.
But we have to emphasize here that the ruling as regards entering bathroom with ring bearing Allah’s name applies to normal cases in which there is no fear of the loss of the ring. In case it may be lost, then it is allowable to take it into the bathroom.”