Crossword Genius

Bearing gifts we hear (8)

Ross

I believe the answer is:

presence

'bearing' is the definition.
(I know that bearing can be written as presence)

'gifts we hear' is the wordplay.
'gifts' becomes 'presents' ('present' can be a synonym of 'gift').
'we hear' indicates a 'sounds like' (homophone) clue.
'presents' sounds like 'PRESENCE'.

(Other definitions for presence that I've seen before include "Demeanour" , "Impressive manner (of a person)" , "Impressive carriage" , "Immediate proximity" , "Impressive appearance" .)

I've seen this clue in The Telegraph and The Irish News.
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