They're both. That is, Gnomes was the earlier name for the Noldor. (I suppose Tolkien dropped it because of the association with garden gnomes...) They were always supposed to be a tribe of Elves.
Note that Nóm ("Wisdom") survives as Finrod's name among Men in the published Silmarillion.
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"Even Nerwen wasn't evil in the beginning." –Elmo.
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