You are
supposed to get the Ring of Holiness as a reward for completing the Sir Sarles quest. (According the book I'm reading.)
Maybe it's the reward if your a cleric or a druid, not sure. I can remember getting it before.
Regarding your gauntlets, give them to one of your thieves. (Always handy for the backstabs.)
(If you want it ...CLUA code... ring22)