Reference: Fataawa Noor ‘alad-Darb – Question No.5752, Pages 199-200, Volume 11
Question: In your opinion, what is the legal ruling regarding wearing a ring with the name of Allaah engraved on it? And what is the ruling regarding wearing a metal ring?
Response: As for a ring with the name of Allaah engraved on it, then if that was because it’s owner wanted to engrave his name – such as ‘Abdullaah on it, then there is no harm in that; [that is because] the Prophet (sal-Allaahu ‘alayhi wa sallam) had ‘Muhammad Messenger of Allaah’ engraved on his ring. If, however, he engraved the name of Allaah alone, then the name of Allaah alone on a ring or other than it carries no meaning, and there is no benefit in it; that is because it is not speech in the beneficial sense. In general, those who engrave the name of Allaah – do so with the intention to seek blessings with this name; and there is no legislated basis for seeking blessings with the name of Allaah [in this way], in which case doing so is closer to it being an innovation [in the religion] than it being permissible.
As for wearing a metal ring, then the correct opinion [in this issue] is that there is no harm in doing so; that is because the Prophet (sal-Allaahu ‘alayhi wa sallam) said to the one who proposed marriage to the woman who had offered herself in marriage to the Prophet (sal-Allaahu ‘alayhi wa sallam):
As for what has been reported about metal being the attire of the people of the Fire, then some of the scholars have stated this hadeeth is shaath, so it is not accepted [as proof].
 al-Bukhaaree and Muslim.
 [شاذ] A hadeeth which is reported by a reliable narrator in contradiction to a hadeeth reported by someone more reliable.