The rumors about Miranda Kerr dating James Packer seemed to be back as the casino mogul reportedly gifted the supermodel with diamond earrings worth $100,000.

A source told Woman's Day that James Packer purchased the bling about four weeks ago.

"They're amazing earrings - the sort of Christmas baubles every girl wants!" the source added, but could not confirm whether the earrings were an early Christmas present.

Miranda Kerr and James Packer have been rumored to be dating since last year. The magazine described the setup as "modern arrangement" where "they still see each other when they're in the same country but also see other people."

Their romance reportedly started when the casino mogul split with his wife, model Erica Baxter, in September last year after six years of marriage.

The billionaire and Erica Baxter have three kids together. Miranda Kerr, meanwhile, has a son, Flynn, with her former husband.

Recently,  former model Erica Baxter was seen spending time with Orlando Bloom sparking rumors they are dating.

Meanwhile, Miranda Kerr insisted that she's not dating James Packer, or anyone else for that matter. The supermodel was also linked to Tom Cruise most recently.

The former Vitoria's Secret Angel recounted that her divorce last year to ex-husband Orlando Bloom has been very tough and she thought she couldn't raise their son 3-year-old son Flynn on her own, but they managed to agree on co-parenting and hurdled all the problems that exes go through.

"It's tough. It's not easy going through all of that and I never thought I would," she said in an interview with InStyle magazine, per NY Daily News.

"But we work our way through it. We agree on pretty much everything when it comes to Flynn,"

With the latest report by Woman's Day, however, expect the tabloids to speculate once more on whether or not Miranda Kerr and James Packer are in fact dating.