Back in September actress Penelope Cruz denied allegations that she was with child, despite the fact that she had been spotted exiting a Madrid OB/GYN clinic with boyfriend Javier Bardem.

And at the beginning of October Ms. Cruz was once again forced to fight off another avalanche of rumors, except instead of baby talk numerous publications claimed she was to be wed.

Well, let’s see the 35-year-old Spanish star explain the “knuckle-sized sapphire surrounded by small diamonds” which she donned Sunday at the premiere of Pedro Almódovar's Broken Embraces!

Penelope was in attendance at the closing night of the 47th New York Film Festival at Lincoln Center, where she added fuel to the fire once more with her tell-tale bling.

Unfortunately for us the actress refused to comment on its significance *sigh* but we’re pretty positive we know what’s going down! (People)

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