I was watching QTV and a Muslim scholar there said that wearing artificial jewelry is Haram for women. A woman is only allowed to wear gold and silver. Is this correct? I never heard of it before so I was confused about it.

Praise be to Allah, the Lord of the Worlds; and may His blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions.

A woman can wear any ornament made of gold, silver, silk jewels or artificial jewelry, etc.  She can wear any ornament that is used for beautifying herself unless it reaches the level of lavishness such as using gold or silver beds, Kahl jars, knives, etc.

Shaykh 'Ulaysh wrote in his Minah al-Jaleel that 'It is permissible for a woman to wear what is made of gold, silver and silk.  She may even use footwear of gold or silver.'

Allah knows best.