1. Gloves
2. Gloves
3. Gloves
...etc
Why? People will pay you a gold premium to trade you almost any item for +3 gloves. For example, you can get nearly any +3 weapon and 100k+ gold for +3 gloves. If you just loom the weapon yourself, you have the same end result, but you are 100k+ poorer. I always loom gloves, then trade them for whatever weapon/shield/armor I want+a bunch of gold.
Scale, Wisby, Plate Mittens, and Heavy Gauntlets seem to be the most valuable gloves in the marketplace, but it varies according to supply/demand.
If you are really patient, the smartest thing to do is horde loom points. Whenever new armors are released, the value of loom points soars. For instance, the new crusader armors are due to be implemented very soon. Everyone will be scrambling to trade their boring old kuyaks/etc for loom points to spend on crusader armors, so when this happens you will probably be able to get a +3 armor for 2 loom points.