Step six:
  • Create a new layer and draw a #B9B4B0 circle.
  • Add a Bevel and Emboss and Stroke layer styles.

    Bevel and Emboss
    Structure Style: Outer Bevel
    Technique: Chisel Hard
    Depth: 100
    Direction: Down
    Size: 5
    Soften: 0
    Shading Angle: 69
    Use Global Light: Uncheck
    Altitude: 11
    Gloss Contour: Default
    Anti-aliased: Uncheck
    Highlight Mode: Screen
    Color: #FFFFFF
    Opacity: 16
    Shadow Mode: Multiply
    Opacity: 75
    Inner Glow
    Structure Blend Mode: Color Dodge
    Opacity: 66
    Noise: 0
    Color: #FFFFFF

    Elements Technique: Softer
    Source: Edge
    Choke: 0
    Size: 5

    Quality Contour: Default
    Anti-aliased: Uncheck
    Range: 50
    Jitter: 0

    Stroke
    Structure Size: 2
    Position: Inside
    Blend Mode: Normal
    Opacity: 100
    Fill Type: Color Color: #000000
    Step seven:
  • Create a new layer and draw a #FFFFFF circle.
  • Change the blending mode to Darken.
  • Add a stroke layer style.
    Stroke
    Structure Size: 2
    Position: Outside
    Blend Mode: Normal
    Opacity: 7
    Fill Type: Color Color: #000000