This seems like a card that only does the thing it appears to be designed around in one deck -- namely, the Nathaniel Cho starter deck, where almost all of your fight actions are going to be from playing an event (or just a basic melee to finish off odd-health enemies).

For other investigators, the Boxing Gloves make an awful main weapon. But that doesn't mean they're useless, since if you can include Boxing Gloves in your deck you can include Bandolier and another Guardian weapon (even a two-hander if you use upgraded Bandolier). That +1 while fighting works while you're using another weapon (as does the search effect), and while having to find your Bandolier (and forego the use of an investigation tool) first makes them harder to play than Ace of Swords, there are probably decks that would love to run both.

At first glance, boxing gloves seem almost offensively bad. Compare them to machete: One fewer hand slot, +1 damage, and the same boost to attack, at the cost of some draw power? Of course, Spirit events are quite common in Guardian (with Stand Together being the best, perhaps), but with Boxing Gloves it's extremely important to consider the opportunity cost of two hand slots. Barring some Bandolier shenanigans, you aren't going to be dealing more than 1 damage with non-event attacks. This game is balanced around dealing 2 damage with those attacks, so you're going to need to play +damage events or skills whenever you need to fight. And with the Guardian's notorious lack of early economy... event based fighting doesn't seem particularly good outside of Nathaniel Cho.

This game is balanced around dealing 2+ damage per attack. I have a feeling that even Cho is going to want to grab Machete or Enchanted Blade and leave the Gloves behind.