Is wearing gold forbidden because it is considered an adornment?

Wearing gold is permissible for women and forbidden for men, by consensus, due to the حديث (Prophetic tradition) which states: "Gold and silk have been made permissible for the females of my Ummah and forbidden for its males." Imam Al-Nawawi affirmed that Muslims have unanimously agreed on the prohibition of gold for men and its permissibility for women.