Warding is a suffix that can appear on Magic and Rare Items. It provides a small magic damage reduction bonus.
It doesn't start spawning on items until Item Level 7.
"Magic Damage" in this case is Fire, Cold, Lightning and Magic Damage (Bone Spells from Oblivion Knights).
Magic Damage Reduced by 1
Can appear on: Magic Items, Rare Items
Is available on: Amulets, Body Armor, Circlets, Orbs, Rings, Shields