Final image

Step 1

In new document 600x600 pixels, open layer and type text.

Step 2

Go to Layer Style and give to text Gradient Overlay.

Select some combinatin of gray-blue color

Step 3

After giving gradient, duplicate text layer, rasterize him and go to Filter>Renden>Lens Flare.

In the top-middle of text give this effect.

Step 4

Put opacity to 35%.

Step 5

Select both text layer. Merge them toghether in one and give Perspective Transformation.

Step 6

Then use Free Transformation like in picture.

Step 7

Duplicate layer and put him behind of first layer.

Step 8

Now start drawing. For this drawing use Rectanqular Marquee Toll.

For every part you draw in next few steps open new layer.

This is important because for every layer you draw, you must to give diferent lighting effect.

Step 9

When we have eliptical shape like letter S do next:

Open new layer and draw quadrant shape.

First text layer must be stay at the top. You can see in the picture.

Step 10

Select duplicated layer of text, give him selections, go back to quadrant layer, select invers and press delete.

Step 11

Stay on the quadrant layer and draw missing parts. You must to watch out for borders.

Step 12

Do same with all sides of leters, like in previous steps.

In the picture below you can see all layers what we get.

Step 13

Now start giving them colors effects.

To first give Gradient Overlay.

Step 14

To second repest Gradient Overlay but change style to Radial.

Step 15

To third use again Gradient Overlay like in picture.

Step 16

When u color all, this is how it's look.

U can color some part with Brush tool.

Now color background.

Step 17

Go to Filter>Renden>Lighting Effects and give this effect like in picture.

Step 18

Repeat again with Lighting effect but change the properties like in picture.

Step 19

After giving lighting effect, select all layers what you have, except bacground layer. Put them in one Set and Merge.

Move this Set down like in picture.

Step 20

Give Opacity to 25%.

Step 21

Now is coming best part for me. Shadow Effect.

Open new layer. Draw new selections and use Gradient Tool.

In Gradient Editor select Foreground to Transparent.

Then give gradient from point up to down.

Step 22

Repeat in others places.

Step 23

And we get perfect Metallic 3D text with lighting ambience.