Answered by: Maulana Mohammed Haroon Hussain
Assalaamu Alaikum. I know that gold is haraam for men to wear but does that mean to buy something that contains gold, like a gold ring or a gold watch for a man, is also haraam, even if they won’t wear it?
In the name of Allah, the Most Gracious, the Most Merciful
Wearing gold is haraam for men. Purchasing gold per se is permissible. In the past, people used to trade using gold coins and gold jewellery for women is completely permissible. Men can purchase gold coins, gold bars etc without any issue.
However, buying gold jewellery that is designed for men is not permissible nor is it permissible to make such jewellery for men. The reason is that we do not want to inadvertently be the cause of ourselves or our Muslim brothers wearing the gold and falling into the impermissible. If someone wishes to invest in gold or use it for trading, he can do so in other forms (like gold bars or gold coins) without needing to resort to jewellery. If you buy a gold ring for men, even if you yourself do not wear it, someone down the line may do so and incur sin; therefore, it is advised not to even purchase it but stick to purchasing other forms of gold. Please also remember that Zakah is due upon gold.
Only Allah knows best.
Written by Maulana Mohammed Haroon Hussain
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham
 قوله: ولا يتختم الا بالفضة لحصول الاستغناء بها فيحرم (بغيرها كحجر)… (وذهب وحديد وصفر) ورصاص وزجاج وغيرها لما مر، فاذا ثبت كراهة لبسها للتختم ثبت كراهة بيعها وصيغها لما فيه من الاعانة على ما لا يجوز، وكل ما أدَي الى ما لا يجوز لا يجوز
ص 725 – 727 – رد المحتار – كتاب الحظر والاباحة – فصل في اللبس – جلد 9 – دار الحديث القاهرة