I know that there are many beautiful gold foil images that you can use to make this text effect, but I really wanted to make my own gold foil texture. So, let’s begin!
(For larger view click on the images.)

1. Create a new document. Mine was 1024×1024 pixels. Set foreground color to #fee77f and background color to #ab9042. Then go to Filter > Render > Clouds and you’ll get something like this image below. Name that layer Gold Foil. Then right click on that Gold Foil layer and convert it to Smart Object.

Next we are going to apply two Smart Filters.

2. With Gold Foil layer selected go to Filter > Noise > Add Noise (Amount: 10%, Distribution: Uniform, Monochromatic checked)

3. Then apply Filter > Distort > Glass (Distortion: 20, Smoothness: 3, Texture: Frosted, Scaling: 120 %) And here it is – your very own Gold Foil Texture.

Because we used Smart Filters we can always go back and modify some of the values. And don’t forget, if your initial image is different size from this one, you will get different result. So play around with filter values for the best effect.

4. Now that we created Gold Foil Texture, we need to make two new layers: one for the background, and one for the text. For the background layer I used white.
Put that Background layer below the Gold Foil layer. Then create a new layer for your text under the Gold Foil Layer. Hide the Gold Foil layer by clicking on the eye on the left side of the layer. I recommend thicker font so you can really see that gold texture. I used a font called  Sail and wrote „Gold“.

5. Then we need to create Clipping Mask to make that letters gold. First, turn on the Gold Foil layer. You can create Clipping Mask by holding the Alt key and hover between text layer and Gold Foil layer, or with the Gold Foil layer selected go to Layer > Create Clipping Mask.
That’s it –  you have your very own Gold Foil Text.