Blending Options>Outer Glow:



Blending Options>Bevel and Emboss



Blending Options>Bevel and Emboss>Contour



Blending Options>Bevel and Emboss>Texture - Color Paper>Gold Parchment



Blending Options>Gradient Overlay



Blending Options>Gradient Editor



Finally we must get such a metallic circle, like that one demonstrated on the picture:



Make a copy of this circle, but the copy should be smaller and it is possible to do that with Free Transform option.