Prepare the Ring and Dremel Tool
Use a 220-grit sandpaper and sand the exterior of your gold ring by hand to reduce heavy scratches. Switch to a 400-grit emery cloth to smooth the surface. Plug the power cord for your Dremel into an electrical outlet. Remove the existing bit and then attach a felt polishing wheel. Apply Tripoli polishing compound onto the felt polishing wheel.
Buff the Ring
Press the trigger on the Dremel and begin polishing the gold ring to remove any scratch marks remaining from the 400-grit sandpaper. You need to do this to the exterior surfaces of the ring only.
Polish the Ring
Switch out the used polishing wheel with a clean one. Apply jewelry rouge to the polishing wheel. Use the Dremel at low speeds, such as 5000 RPM, to polish the ring. Be careful not to press down when polishing the ring and make sure to keep the Dremel moving.
Clean the Ring
Wipe your newly polished gold ring with paper towel and nail polish remover. This removes the buffing compound residue from the jewelry. Rub the gold ring using a polishing cloth to complete the process.