Mystery Solved! The Meaning Behind Meghan Markle's New Ring Revealed

Meghan Markle‘s stunning new ring caught the eye of many royal and fashion fans when Meghan debuted the new piece of jewelry at Trooping the Colour over the weekend.

The eternity ring, which the new mom wore next to her wedding band and engagement ring, is an anniversary gift from husband Prince Harry, PEOPLE confirms.

The latest addition to Meghan’s jewelry collection was spotted by fans as she waved to the crowd on the ride to Buckingham Palace with Prince Harry, Kate Middleton and Camilla, Duchess of Cornwall on Saturday.

Eternity rings are traditionally gifted following a milestone event, like the birth of a child or a wedding anniversary, and are typically covered in diamonds in an infinite loop around the band. Meghan isn’t the first royal to sport such a ring — Prince William gave Kate an eternity ring after the birth of their first child, Prince George.

RELATED: Meghan Markle Debuts New Eternity Ring at Trooping the Colour After Son Archie’s Birth

Meghan and Prince Harry have recently celebrated both their first wedding anniversary and the birth of their first child, son Archie Harrison, who was born on May 6.

Baby Archie didn’t join his parents at Trooping the Colour, as at only five weeks old, he is too young for the event. He was left in the trusted care of one of the royal staff members while his parents were out — but fans of the young royal can expect to see Archie again at his royal christening, which will likely take place this summer.

The outing marks the first time Meghan and Prince Harry have been spotted in public since Archie’s birth last month. While Harry isn’t taking paternity leave, the appearance was a break for Meghan amidst her maternity leave.

Can’t get enough of PEOPLE’s Royals coverage? Sign up for our newsletter to get the latest updates on Kate Middleton, Meghan Markle and more!

RELATED: Where’s Baby Archie? Why Meghan Markle and Prince Harry’s Son Didn’t Attend Trooping the Colour

Meghan and Harry have been enjoying their adjustment to parenthood.

“It’s magic. It’s pretty amazing. I have the best two guys in the world, so I’m really happy,” Meghan said when asked what motherhood is like when the new family introduced Archie to the world shortly after his birth.

She added that baby Archie “has the sweetest temperament. He’s really calm.”

“He’s just been a dream,” she added.