A man is being questioned following an alleged alteraction outside a block of flats in Pwllheli.
Two men were taken to hospital following the disturbance at the Yr Eifl building on Ffordd Mela at around 10.30am on Monday morning.
Detectives say their injuries are not thought to be life threatening.
A third man was arrested at the scene on suspicion of wounding and remains in custody.
Inspector Andrew Davies from North Wales Police said: "Officers remain at the scene as our investigation into this incident continues."
"We want to reassure the local community that there is no ongoing threat to the public, and the suspect is currently in custody."
Anyone who witnessed the incident or may have any information should contact North Wales Police on 101 or via the live web chat, quoting incident reference no. C123655.
Families pay tribute to Beaumaris crash victims
Broadcast Archive launches Llangefni 'clip corner'
Flying Start expands in Deiniolen
Countdown to the Anglesey Show
CCTV appeal after car stolen
