the Fatwa Department Research Committee - chaired by Sheikh `Abd al-Wahhâb al-Turayrî
The default ruling for all general matters related to adornment and other customary practices is that permissibility is to be assumed unless there is specific evidence indicating otherwise.
In any event, there is clear evidence in the Sunnah that the women among the Companions used to wear earrings without any the Prophet (peace be upon him) ever objecting to the practice.
Ibn `Abbâs relates that “the Prophet (peace be upon him) prayed two units of prayer on the day of `Id al-Fitr and did not pray anything before them or after them. Then he went to the women along with Bilâl and commanded them to give in charity. So the women began throwing forth their earrings and necklaces.” [Sahîh al-Bukhârî (964) and Sahîh Muslim (884)]
The word used for earrings is khurs. This is a ring worn in the ear and that requires the ear to be pierced. Ibn Hajar al-`Asqalânî writes in his commentary on Sahîh al-Bukhârî entitled Fath al-Bârî: “Khurs refers to the ring that is placed in the ear.”
This hadîth is clear evidence that the women of the Companions used to wear earrings and that the Prophet (peace be upon him) did not object to the practice. This is an indication of the tacit approval of the Prophet (peace be upon him) for the practice and proof that it is lawful.
And Allah knows best.
Source: Islam Today