I am going to show you a quick and easy variation on metallic text effect.
Step 1: To begin, create a new image with the following attributes.
Step 2: Create a new layer and then select the Type Mask tool. I Chose Stencil Std font with 90 pts in size.
Step 3: Open the Layer Styles for the filled type layer. First, select Inner Glow and apply the following settings:
Step 4: Now select Bevel and Emboss with the following settings:
Step 5: Set Gradient Overlay:
Step 6: Inner Shadow:
Step 6: Go back to Bevel and Emboss. Click on the Contour window and create a contour like the one seen below.