OK - lets get started
1. Open your image, press shift D to duplicate, then
close your original
2. Resize your graphic if needed (we will be adding over
50px in borders, so resize now if your image is large). Go to
Adjust>Brightness & Contrast>Clarify and type in 5
3. Add a raster layer, then flood fill with your Golden
gradient using angle 0, repeats 0 and linear style
4. Apply kwcoval1 mask with the following settings

5. Go to Selections>From mask, then while selected merge
the mask group. Keep selected
6. Apply the following noise settings. Don't deselect

7. Apply the following drop shadow, repeat with minus
values

9. Activate your background layer, then add a raster
layer
10. Activate your selection tool, set to ellipse with no
feather. Using your mask as a guide, draw an ellipse slightly
larger than the centre ellipse on your mask. Don't panic if you
don't get it perfect - if you need to move your ellipse, choose your
mover tool then right click your selection and move it where you want
it. Keep selected
11. Invert your selection and flood fill with your
gradient, apply the following blinds settings. Do not deselect

12. Go to your layer palette and turn the opacity of
this layer down to 60. Invert your selection, add a raster layer and
apply the following cutout (If you don't think your cutout is dark
enough, just duplicate the layer). Deselect

13. Add a BLACK symmetrical border of 1
14. Add a WHITE symmetrical border of 5, click with your
magic wand, then flood fill with your gradient. Deselect
15. Add a BLACK symmetrical border of 1
16. Add a WHITE symmetrical border of 5, click with your
magic wand, then flood fill with your gradient add noise as we did
before. Deselect
17. Add a BLACK symmetrical border of 1
18. Add a WHITE symmetrical border of 10, click with
your magic wand, flood fill with your gradient, then apply blinds
with the same settings we used before
19. Repeat steps 15 to 19
20. Add a WHITE symmetrical border of 40, click with
your magic wand, flood fill with your gradient then apply blinds as we
did before. Do not deselect
21. Add a raster layer, flood fill with your gradient
and apply the same mask we did before. Merge your mask group then
apply the same noise and drop shadow we have been using - repeat with
minus values. Deselect
22. Select all, then go to selections>modify>contract and type in
40. Invert your selection then add the following inner bevel

23. Repeat steps 15 to 19