Commentary for Exodus 32:2

באזני נשיכם [BREAK OFF THE GOLDEN PENDANTS], WHICH ARE IN THE EARS OF YOUR WIVES — Aaron said to himself: women and children have a love for their ornaments; perhaps the matter will be delayed because they will hesitate to give their ornaments, and in the meantime Moses may arrive. They (the men), however, did not wait until the women and children made up their minds but they took the ornaments off themselves (cf. v. 3: they took off the pendants which were in their ears; there is no reference to the pendants belonging to the women) (Midrash Tanchuma, Ki Tisa 21).

PULL OFF THE GOLDEN RINGS. He selected gold and not silver, because gold indicates the attribute of justice, its appearance being as the appearance of fire,²⁸⁶Ezekiel 1:27. just as the Rabbis have said,²⁸⁷Yoma 45a. The Biblical expression (gold of parvaim) is found in II Chronicles 3:6. “gold of parvayim, gold which is like the blood of bullocks.” It is for this reason that the House where the sacrifices were brought was made wholly of gold, as also the altar of incense²⁸⁸Above, 30:3. and the cherubim,²⁸⁹Ibid., 25:18. and the Rabbis have interpreted [the verses to mean]²⁹⁰Mechilta ibid., 20:23. that “if they made them of silver [and not of gold] they are like gods of silver and gods of gold.” Even the form for the calf they made of gold rather than of silver.

ויאמר, "He said, etc." This means that what Aaron said was not what he meant in his heart.