Hadith: Wearing silk and gold is forbidden for the males of my Ummah and is allowed for their females

عن عليٍّ رضي الله عنه قال: رأيتُ رسولَ اللهِ صلى الله عليه وسلم أَخَذَ حَرِيرًا، فجعله في يمينه، وذَهَبًا فجعله في شماله، ثم قال: «إِنَّ هَذَيْنِ حرامٌ على ذُكُورِ أُمَّتِي». عن أبي موسى الأشعري رضي الله عنه : أَنَّ رسولَ اللهِ صلى الله عليه وسلم قال: «حُرِّمَ لِباسُ الحَرِيرِ والذَّهَبِ على ذُكُورِ أُمَّتِي، وأُحِلَّ لإِنَاثِهِمْ».
[صحيحان] - [حديث علي رضي الله عنه: رواه أبو داود والنسائي وابن ماجه وأحمد. حديث أبي موسى رضي الله عنه: رواه الترمذي والنسائي وأحمد]

‘Ali (may Allah be pleased with him) reported: I saw the Messenger of Allah (may Allah's peace and blessings be upon him) taking silk in his right hand and gold in his left hand and then he said: "These two are forbidden for the males of my Ummah." Abu Mūsa al-Ash‘ari (may Allah be pleased with him) reported that the Messenger of Allah (may Allah's peace and blessings be upon him) said: ''Wearing silk and gold is forbidden for the males of my Ummah and is allowed for their females.''
Sahih/Authentic with its two versions. - [Ibn Maajah]

Explanation

The Messenger of Allah (may Allah's peace and blessings be upon him) grabbed silk with his right hand and gold with his left hand and said: ''These two – silk and gold – are forbidden for the males of my Ummah.'' So, wearing gold and silk are impermissible for male Muslims, except if one suffers itching or mange and he has no alternative but to wear silk. Another exception is wearing a gold nose if needed (when the nose is cut). Women, however, are allowed to wear what they like but without excess, which is forbidden. Allah says: {Be not excessive. Indeed, He likes not those who commit excess.} [Sūrat al-A‘rāf: 31]