The accused has been identified as Sukhdev, a native of Panipat, and he was arrested yesterday from Jwala Heri market in West Delhi's Paschim Vihar, they said.
On December 31, a jewellery showroom owner in Ranjit Nagar had complained to the police that one of his employees had fled with a one kg gold which was handed over to him for delivery to a customer in Pitampura.
The accused, when called on phone by his employer, said he has gone to Panipat because his parents had suddenly fallen ill, according to a police official.
On a tip-off, the police yesterday found a man wandering in Jwala Heri market with the intention to sell huge quantity of gold who turned out to be Sukhdev.
Police arrested him and recovered 522 gm of stolen gold besides Rs 10 lakh cash which he got by selling the remaining gold, the official said.