We should get the same result as in the picture below:



The already applied Rectangle Tool (U) may be helpful this time in representing a small stripe positioned on the central part of the circles:



Apply the here presented Blending Options:

 

 



We’ll get in this case a metallic element:



Next we have to select one more time the Custom Shape Tool (U) - Circle Thin Frame for representing the ring:



Make use of the Blending Options shown in these tables: