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.
Abu Moosa Al Ash’ary narrated that the Prophet said: “Gold and silk are lawful to the females of my Ummah and forbidden to its males.” [Ahmad, At-Tirmithi, An-Nasaa’i and Al-Haakim]
This Hadeeth clearly states [and is sound evidence] that gold and silk are forbidden for men and lawful for women. So, men are forbidden from wearing gold rings even if they are only plated with gold for the above Hadeeth. Besides, when the Prophet once saw a man wearing a golden ring in his hand, he took it off from the man's finger and threw it away and said: “How would one of you take a firebrand and put it in his hand”. [Muslim]
These two Ahadeeth and other similar ones are enough evidence that it is forbidden for men to wear anything called gold. In fact, wearing gold for men is a sort of extravagance and arrogance. It also has a bad effect on poor people's hearts.
Allah knows best.