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MC:India gold traders stay on sidelines
 
MUMBAI (Reuters) - Gold traders in India, the world's biggest buyer of bullion, stayed on the sidelines after prices steadied near a key resistance level, with support from global markets being offset by a stronger rupee at home, dealers said.
* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.07 percent higher at 28,755 rupees per 10 grams. It had hit 28,900 rupees -- seen as a strong resistance level -- last week.
* Global gold inched higher, after two sessions of straight losses, ahead of a major cash injection by the European Central Bank expected later this week.
* The rupee, which traded marginally stronger, plays an important role in determining the landed cost of the dollar-quoted yellow metal.
* "It is not a very active day...jewellers have remained light on inventories off late," said a dealer with a private bullion importing bank.
* Silver also traded flat tracking the yellow metal.
* Silver for March delivery on the MCX was 0.03 percent higher at 58,725 rupees per kg.
Source