Acting on inputs, the DRI officials conducted searches at the shop of the trader and found 20.64 kgs of gold.
The yellow metal was in the form of the 20 gold bars weighing one kilogram each.
The remaining gold was in small pieces, a press release issued today by the DRI said.
The gold, which is valued at about Rs 6.47 crore, is of foreign markings and of 995 purity, it said.
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The total value of the seizure is about Rs 12.91 crore.
Two persons have been arrested and remanded to judicial custody.
Further investigation is in progress," the release said.
The DRI officials, who conducted the searches on Friday, arrested the trader and a carrier when they were allegedly trying to sale off more gold, official sources said.
DRI continues with its drive against smuggling and black money and has achieved significant results in the recent past.
Last month, the Delhi Zonal Unit of DRI had made a record detection of smuggling of gold of about 7,000 Kilograms, valued at about Rs 2,000 crore and had arrested two persons.
Under Cofeposa, a person can be detained for a continuous period of one year.
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