No, that might be a different one. It's in one of two places for two reasons. The first place it could be is above the tomb of F'lokis Ra. Simply walk onto the lift, press the button, run backwards before it goes down, jump onto the lift roof and ride it to the top. When there, run onto the new passageway in order to either take obscene amounts of crushing damage or get stuck between the walls as in Daggerfall. It is a quest item and as such doesn't appear in it's place until you recieve the quest, now that you've been asked to find it, it will be there. The amulet in question is right in the corner of the room, hiding next to a table leg and is difficult to see. If it's not there it'll be in one of those four tombs (like all other, non plot essential quest items it won't be there until you need it and as a result of such can be easily overlooked).
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Balgin, the Dwarf
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