When the -ing form of a verb acts as a noun, it is a gerund. Gerunds are identical to but different from present participles, which are -ing verbs that function as adjectives. For example, bleeding is a gerund when it’s a noun (e.g., stop the bleeding) and a present participle when it functions as an adjective (e.g., the bleeding man). So, when we see the word bleeding on its own, it’s impossible to say whether it is a gerund or a present participle. It can’t be both, but we need context to determine which it is.
All the -ing words below are examples of gerunds because they function as nouns:
Winter is the time for surfing in Hong Kong … [CNN]
There was crying from every corner. [pasungilidakshina]
… The meaningless plungings of water and the wind … [Wallace Stevens]
To all the people who want to go kite-flying and don’t know where to find kites, let me tell you … [Violin Gal]