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C# Password generator

I recently wrote a small amount of code to generate a password without using a GUID or something. Pretty simple stuff, but good for a library.

string pwdChars = "abcdefghijkmnopqrstuvwxyzABCDEFGHJKLMNOPQRSTUVWXYZ0123456789";
char[] pwdElements = pwdChars.ToCharArray();

Random random = new Random();
StringBuilder builder = new StringBuilder();

//Generate password in loop
for(int i = 0; i < passwordLength; i++)
	int randomChar = random.Next(0, pwdElements.Length);

return builder.ToString();