1) open a new document sized 200 x 200 in white background.

2) Select the type tool and create some big text and name this layer 'text'.CTRL+CLICK the layer text to select it's contents.

3) Now save the selection for later use, click Select > Save Selection, type name: alpha1, click OK.

4) Now you can deselect your selection, Press CTRL+D.

5) Now on the layer tablet, click the 'Channels' tab, then select 'Alpha 1'

6) Then apply Gaussian Blur. click Filter > Blur > Gaussian Blur, enter 1.1 as the value, click OK. (for higher res use a higher value, something like 3-4).

7) Now Click back to 'Layers' on the Layer tablet. On your 'Text' layer, click the 'Visibility Icon' (looks like an Eye, ). This will hide your 'Text' layer. Select the 'Background' layer and continue...

8) Then add Lighting Effects. Filter > Render > Lighting Effects, on the bottom of the window that appears, Change Texture Channel to 'Alpha 1'. Click OK .

9) Now adjust Curves,Click Image > Adjustments > Curves.

10) Now select the 'Background' layer. Load Selection, click Select > Load Selection, choose 'Alpha 1' from the 'Channel' drop-down.

11) Expand the selection, Select > Modify > Expand, set the value somewhere between 1 - 4 depending on your text(we're using 3 in this example) what we're attempting to do is select just about the entire chrome text.

12) Make sure your still on the background layer, we're going to move your selection to a new layer, click Layer> New > Layer via Cut.

13) Select the Background layer from the Layer Tablet once again, this time Select All by hitting CTRL+A, then follow by pressing BACKSPACE to Clear the background layer.

14) The next step is to color the text gold. This can be done by going to Image > Adjust > Selective Color and use the following settings.

15) Now create the shiny feel to make it appear more realistic. First load the saved selection alpha1.Then Select> Modify > Contract 8 pixels

16) Create new layer (Layer 1) above text layer and Fill the selection with white. Then apply gaussian blur. Filter> Gaussian Blur> 1 pixel. Set your layer to Opacity: 60%

17) Duplicate Layer 1 and set blending mode to Color Burn and Opacity: 20%

18) Now we will do some final touches. Load the saved selection alpha1, and then from the menu Select> Modify > Expand> 2 pixels. Create a new layer and move it below text layer and fill it with brown (702D07). Then apply drop shadow.