Selena's new ring finguer bling - Are she and Justin engaged?

Selena Gomez has a new ring, but it is NOT an engagement ring.

Rumors started spreading that she and Justin were engaged after she was seen wearing a very nice gold ring on her left ring finger at the WeDay event and at the Kids' Choice Awards.

So did Justin propose? No, says a source:

"They are not engaged nor are they getting engaged anytime soon. It was nothing more than a fashion choice.”

But it was a present from him:

“The ring was a gift from Justin. It's not an engagement ring, but they are back on and very serious."