If it's a gold watch, I wouldn't even bother with photoshop. You can do so much with materials in Maya alone. Click the word "pixho" in my other thread as it's actually a link but you can't really tell. Same goes for "video tutorial" in the lighting answer and "here" in the last line about A|W animating a clock. Anyway, if you click "pixho," it will take you to his shader page which has a metals collection....very nice ones from the look of it. Load it up and look at how it was created....the attribute editor for the shader you want to use...the graph network.
For a basic gold, just create a blinn material, change the color to a brown. Then, in the specular shading section, set the color to an orange or yellow and crank the saturation and value up a bit.
"Terminat Bora Diem, Terminal Auctor opus."