For reflective macro subjects, the key is to make the light source much larger and softer relative to the watch. A small direct flash creates bright specular hotspots, especially on curved metal and glass.

A good solution is a small macro tent or improvised light tent. You can make one with white paper: form a ring or surround around the subject, place your lights outside the paper, and shoot through a small opening. The paper diffuses the light so the watch reflects a broad, soft source instead of a harsh point of flash. If reflections are still strong, add more diffusion and leave only a small gap for the lens.

A polarizing filter may also help reduce some glare and reflections, depending on the surfaces involved.

In short: avoid direct flash, use the largest diffused light source you can, and consider a light tent plus a polarizer.