Sahih Muslim | Book 24 | Chapter 10
Narrated by Abu Huraira
Abu Huraira reported that Allah's Apostle (may peace be upon him) forbade the wearing of gold signet ring.
Narrated by Abdullah b. 'Abbas
Abdullah b. 'Abbas reported that Allah's Messenger (may peace be upon him) saw a person wearing a gold signet ring in his hand. He (the Holy Prophet) pulled it off and threw it away, saying: One of you is wishing live coal from hell and putting it on his hand. It was said to the person after Allah's Messenger (may peace be upon him) had left: Take your signet ring (of gold) and derive benefit out of it, whereupon he said: No, by Allah, I would never take it when Allah's Messenger (may peace be upon him) has thrown it away.
Narrated by 'Abdullah
'Abdullah reported that Allah's Messenger (may peace be upon him) got fashioned a signet ring of gold but he kept its stone on the inner side of his palm as he wore it, so the people (following his example) got fashioned (such rings). Then one day as he sat on the pulpit he pulled it away saying: I wore this ring and kept its stone towards the inner side. He then threw it away, and said: By Allah, I will never wear it; so the people threw their rings away.