Emboss & Metallic Effects Using Channels & Curves

Open a new canvas rename it Emboss & metallic effect , 944 x 620, 180 dpi, and white background. Fill with black.

Create a new layer, set foreground to a mid grey. Select your shape (works best on shapes, text depends on size and density as to outcome). This works best on a solid shape.

Ctrl+Click on the shape layer and open channel palette (Window/Channel). Click on the new channel icon at the bottom of the palette and fill selection with white. Keep selection.

Filter Blur/Gaussian Blur at 10, repeat at 5 and then 2. (Amount of blurring will depend on size and density of shapes/text). (Text is likely to need much less blur, say 5, 2, and 1).

Click back on your shape layer in the layers palette. Go to Filter/Render/Lighting Effects and enter these settings.

Go to Image/Adjustments/Curves and set the curve like this.