Incorporating multi-modal features as side information has recently become a trend in recommender systems. To elucidate user-item preferences, recent studies focus on fusing modalities via concatenation, element-wise sum, or attention mechanisms. Despite having notable success, existing approaches do not account for the modality-specific noise encapsulated within each modality. As a result, direct fusion of modalities will lead to the amplification of cross-modality noise. Moreover, the variation of noise that is unique within each modality results in noise alleviation and fusion being more challenging. In this work, we propose a new Spectrum-based Modality Representation (SMORE) fusion graph recommender that aims to capture both uni-modal and fusion preferences while simultaneously suppressing modality noise. Specifically, SMORE projects the multi-modal features into the frequency domain and leverages the spectral space for fusion. To reduce dynamic contamination that is unique to each modality, we introduce a filter to attenuate and suppress the modality noise adaptively while capturing the universal modality patterns effectively. Furthermore, we explore the item latent structures by designing a new multi-modal graph learning module to capture associative semantic correlations and universal fusion patterns among similar items. Finally, we formulate a new modality-aware preference module, which infuses behavioral features and balances the uni- and multi-modal features for precise preference modeling. This empowers SMORE with the ability to infer both user modality-specific and fusion preferences more accurately. Experiments on three real-world datasets show the efficacy of our proposed model. The source code for this work has been made publicly available at https://github.com/kennethorq/SMORE.