Police intercepted a car near Bagowali bypass in Chapar area and arrested the two identified as Waseem and Javed, SP City Sarvan Kumar told reporters here.
Eight gold biscuits of 800 grams each were recovered from their possession, he said adding that the duo had smuggled gold from Saudi Arabia.
Police have also seized a car and four mobile phones from them.
A case has been registered against the two under various sections of Customs Act, he said.