Praise be to Allah.
Firstly:
It is haram for men to wear gold, because of the report narrated by Muslim (2090) from Ibn ‘Abbas (may Allah be pleased with him), according to which the Messenger of Allah (blessings and peace of Allah be upon him) saw a gold ring on a man’s hand. He took it off and threw it aside, and said: “Would one of you go and pick up a live ember of fire and wear it on his hand?” After the Messenger of Allah (blessings and peace of Allah be upon him) had left, it was said to the man: Take your ring and benefit from it (by selling it). He said: No, by Allah, I will never pick it up when the Messenger of Allah (blessings and peace of Allah be upon him) has thrown it aside.
Please see the answer to question no. 82877 .
Secondly:
Lapis lazuli is composed of a number of minerals, none of which is gold.
It says in al-Mawsu‘ah al-‘Arabiyyah al-‘Alamiyyah: al-lazurd (lapis lazuli):
Lapis lazuli is a stone that is used for adornment. It is deep blue and is composed mainly of lazulite, which is a mineral that is composed of sodium, aluminum, silicon, oxygen and sulfur. Most lapis lazuli stones contain minerals such as calcite, pyrite, and sodalite. A small amount of yellow pyrite helps identify the authenticity of a lapis lazuli stone. The presence of white calcite generally reduces the value of lapis lazuli.
Large amounts of lapis lazuli are found in the Hindu Kush Mountains in Afghanistan, and on the south-west edge of Lake Baikal in Russia.
Lapis lazuli has been used in jewellery since ancient times. The grave of the Pharaoh Tutankhamen, who ruled Egypt in the fourteenth century BCE, contained a number of objects made of gold and lapis lazuli.
The ancients believed that lapis lazuli had medicinal qualities; they would grind up the stone and mix it with milk, and apply the resulting paste to blisters and sores.
In the past, lapis lazuli was ground up to produce ultramarine, which is a blue dye that was used in paintings. End quote.
Based on that, there is nothing wrong with a man wearing a ring containing a stone of lapis lazuli.
Thirdly:
We should beware of the idolatrous myths that are associated with precious stones, such as believing that they bring happiness and good luck, or that they can heal diseases and the like.
Please see also the answers to questions no. 192206 and 142377 .
And Allah knows best.
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