Magnets cost at least 10 times more then velcro...Velcro will never hold as well as this magnet method (trust me, I've tried), and magnets never wear out, velcro does. If you do it the magnet way, you'll never have to mess with it again. I replaced my velcro on my gaunts twice before going this route. It's your choice ultimately though. Either way, good luck with it
Cost of the rare earth magnets I used on my gauntlets was only $11.00 which I don't think is all that expensive. Yes velcro is cheaper but this is a one time cost.
My gaunts kept popping open at events from innocent hi fives. They are resin Mow gaunts clasped with magnets. I'm working on new vac formed gauntlets and I plan on using Velcro. It's slim, light, and movie accurate. Although I will pop for the industrial grade stuff...