This is the exact thing we use every day on all of our rings. Zam polish and Fabulustre.
The zam works great on soft stones and ca finish. While the Fabulustre works a little bit harder for a bit harder materials.
These are WAX like compounds. This means they are hard and have push up bottoms. You will need to use some sort of rotary device in order to get the polish onto your buffing wheel.