Jewellery labels are created the same way as regular labels (see: creating labels) but in a much smaller size. Keep the missing space in the middle of your labels in mind as well.
The text on this label is carefully placed in order to print on the smaller middle section of the label while avoiding the empty areas.
The default barcode will most likely be much too large to fit on the jewellery labels. Select your barcode and then use the barcode Type field on the right side menu to change the type to "UpcE", which will be much smaller.
Shorten the max character length of your text boxes to save space. For example, if your prices never go into the 10k range, you can shorten the price field to only 7 digits.
Changing your font to a smaller size is another good way to maximize space
Remember that when saving your label, the barcode cannot be smaller than 10mil or it might be able to be scanned properly.