All perfect praise be to Allah, The Lord of the Worlds. I testify that there is none worthy of worship except Allah, and that Muhammad is His slave and Messenger.
As for gold, there is no doubt that it is impermissible for men to wear gold ornaments as evidenced by the authentic Sunnah texts. For instance, it was narrated on the authority of ‘Ali ibn Abu Talib that the Prophet took silk and held it in his right hand and took gold and held it in his left hand and then said: “Both (gold and silk) were deemed forbidden for the males of my nation.” [Ahmad, Abu Dawood, and others]
Moreover, Abu Moosa Al-Ash’ari narrated that the Prophet said: “Gold and silk were deemed unlawful for the males of my nation and lawful for the females of my nation.” [At-Tirmithi]
There is no disagreement among Muslim scholars regarding the prohibition of wearing gold for men. An-Nawawi said in Al-Majmoo': “Wearing gold ornaments is prohibited for men according to the consensus of Muslim scholars based on the authentic Hadeeths in this regard.” [End of quote]
As for silver, the Prophet wore a silver ring, and therefore the jurists stated that it is permissible for men to wear silver rings, even though they differed regarding other (silver) adornments. However, they generally agreed on the permissibility of wearing a silver ring for men.
Al-Mawsoo‘ah Al-Fiqhiyyah (the Kuwaiti Fiqh Encyclopedia) reads:
“In general, jurists agreed on the permissibility of wearing silver rings for men, and on the permissibility of using a silver nose or tooth, and the permissibility of decorating weapons with silver ornaments. The different schools of Fiqh delineated the relevant provisions in this regard.” [End of quote – Abridged]
As for fake gold or silver rings (only the color of gold or silver, but not the elements), there is nothing wrong with wearing such rings because it is just a color and not real gold or silver, and therefore, wearing such rings is not deemed forbidden for men.
Allah knows best.