Is it permissible to wear a watch that contains a small amount of white gold?

Firstly: 

White gold is the same as the well known yellow gold, but
some other metals such as palladium have been added to it to change the
colour to white. This is what the experts say, and that has been discussed
in the answer to question no 68039 

As this is the case, it is haraam for men to wear it even if
it is a small amount, because of the hadeeth narrated by Muslim (2090) from
Ibn ‘Abbaas (may Allaah be pleased with him) which says that the Messenger
of Allaah (peace and blessings of Allaah 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 hold it in his hand?” After the
Messenger of Allaah (peace and blessings of Allaah 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 Allaah, I will never pick it up when the Messenger of
Allaah (peace and blessings of Allaah be upon him) has thrown it
aside. 

Abu Dawood (4075), al-Nasaa’i (5144) and Ibn Maajah (3595)
narrated from ‘Ali ibn Abi Taalib (may Allaah be pleased with him) that the
Prophet (peace and blessings of Allaah be upon him) took a piece of
silk in his right hand and a piece of gold in his left and said: “These two
are haraam for the males of my ummah.” Classed as saheeh by al-Albaani in
Saheeh Abi Dawood. 

Al-Nawawi (may Allaah have mercy on him) said in Sharh
Muslim: As for gold rings, they are haraam for men according to
scholarly consensus. The same applies if they are partially gold and
partially silver. End quote. 

The Standing Committee for Issuing Fatwas was asked: It has
become common among some people, especially men, to use that which is called
white gold, which is used to make watches, rings, pens and so on. After
asking the jewellers and goldsmiths, we found out that white gold is
actually the well-known yellow gold, to which a certain metal has been
added, 5-10%, to change its colour from yellow to white, or some other
colour, which makes it look like another kind of metal. Use of this has
become very widespread in  recent times, and many people are confused about
using it.

They replied: 

If the situation is as described, the gold which is mixed
with other metals still comes under the ruling that it is haraam to
differentiate in weight or measure when selling it for gold of the same
type, and the exchange must be completed in one sitting, whether it is sold
for gold of the same type or for silver or cash. It is haraam for men to
wear it, and it is haraam to make vessels out of it. Calling it white gold
does not change these rulings. End quote. 

Fataawa al-Lajnah al-Daa’imah
(24/60) 

Secondly: 

There is nothing wrong with wearing a watch which contains
diamonds, because the basic principle is that they are permitted, and there
is no evidence to suggest that they are not allowed. 

The Standing Committee for Issuing Fatwas was asked about
wearing valuable watches which contain diamonds or gold. 

They replied: Wearing diamonds is permissible for men, and we
do not know of anything wrong with that if they are pure and there is no
gold or silver with them. End quote. 

To conclude: if the watch is free of gold then it is
permissible to wear it, otherwise it is not permissible. 

And Allaah knows best.