This tutorial taught how to manipulate text using layer styles in Photoshop. First it had you create a new blank layer and change the layer styles. This created the background for the text. It took me through the layer styles of inner shadow, inner glow, satin, gradient overlay, and pattern overlay which selected the background image. Then you were to create a new text, could be anything and go to layer styles and apply styles to it also. Affects applied to it was drop shadow, inner shadow, outer glow, inner glow, bevel and gloss, satin, color overlay, gradient overlay, pattern overlay, and stroke. The stroke was the most detailed and created a gradient stroke and applying color to the stroke. Then the next step was to duplicate the text, clear all the options and go through some minor settings again. This time the stroke was a different color and was meant to set underneath and blend with the top text.
Source:
http://psd.tutsplus.com/tutorials/text-effects-tutorials/royal-gold-text-effect/