1) Make a new document. Select the Type Tool and put in a nice BOLD word. I used ARIAL font.
2) Now go to Filter>Distort>Ripple. It will ask you rasterize the layer before continueing so just press OK to that and add these ripple numbers:
Ok, so now go to Filter>Blur>Gaussian Blur and use the the following settings:
3) Now here comes the fun part. Lets make some gold!! Ok right click the text layer. Go to Blending Options and apply all settings as seen below!
    
I used the cloud texture.
 
Finito! Enjoy the gold nugget text effect!
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