A Polished Pendant  

The pendant sparkles in the sun. This is no goblin-made item; the craft is too symmetrical and clean. Someone has recently lost this item.

Perhaps Candaith or someone at The Forsaken Inn knows something of this object.

You discovered a pendant carried by a goblin and recognized immediately that the object could not possibly be of goblin-make.

Objective 1
Find and return the pendant to its owner
The pendant is far too well-crafted to belong to a goblin. You should ask folk at the Forsaken Inn or the Ranger Candaith at his camp in the western shadow of Weathertop if they know to whom the pendant may belong.

Take the Pendant to Pengail at Weatherfoot.