Gold Near 3-Month High at $1,325.20 per Ounce

Gold held steady at $1,325.20 per ounce on Wednesday, according to Reuters, near Tuesday’s three-month high of $1,332.10. Investors are finding the metal particularly appealing as tensions in Iraq and Ukraine continue.

In Iraq, the first session of the country’s new parliament failed to name a replacement prime minister, decreasing hopes the government could unify and prevent the country’s collapse. Ukrainian forces attacked pro-Russian separatist bases in the eastern part of the country on Tuesday with air and artillery strikes after President Petro Poroshenko announced he would rid Ukraine of “parasites.”

U.S. gold futures dropped 0.02 percent or $0.30 to trade at $1,326.30 per ounce, according to Reuters.