After having assisted the same still life photographer for two and a half years, I got a chance to shoot my own job. An art director needed a necklace photographed but had no budget to use my employer. I got the job. The money was great for me and I could shoot it on a weekend. So he gives me the product. A shiny reflective necklace with a round pendant on the end. I spent my entire Saturday working on the lighting. I tried everything I could think of, but got bad results. Finally at 7pm I called my boss at home for advice. He said to try putting tissue over the top as diffusion with the light through it. I set it up with a clamp lamp over the top and my problem was solved. Using this lighting technique for round reflective objects is very effective. Give it a try and discover what other possibilities there are.
For more info on equipment used see: Photo and Grip Equipment for Clamp Lamp Studio