No, it's not a ring, but according to Hollywood Life, it's something almost as good: "a diamond bracelet to signify that she is his." Justin's beautiful, meaningful gift surprised everyone including its deeply touched and delighted recipient. A source close to the two teen stars described Selena's reaction as "so touched and taken aback. But she loved it. It's the first diamond anyone has ever given her. He wanted to take their relationship to the next level."
And it looks like the Biebs succeeded in doing exactly that. “They’re totally together," claims the source. "They’re attached at the hip. You can’t keep these two apart. He’s really smitten with her. They connect on so many levels.”
Bieber and Gomez seem to connect quite well indeed. Not only do they seem to spend most of their waking hours in each others company, he has now gifted her with the gems that symbolize romantic love. Does this mean that in 2011, Justin Bieber and Selena Gomez will stop their coy game-playing and reveal themselves as the new year's hottest couple?
Very possibly. According to the source, "Justin is spending the holiday with his family, but...Selena will be with him for their midnight kiss."
Source : celebs.gather.com