Gift of the moment? (7)
I believe the answer is:
present
I believe this is a double definition.
'gift' is the first definition.
(I know that gift can be written as present)
'the moment?' is the second definition.
(moment is a kind of present)
'of' is the link.
(Other definitions for present that I've seen before include "See 12" , "Serpent (anag.)" , "Introduce < and compere < tense" , "show" , "Give - what's received at Christmas?" .)