care for a 3rd answer?
both. I wear the glove over the jacket, but under the 100% waterproof raincoat which I wear over the jacket and gloves.
To me this is the only solution that works.
And when rain is over, I have a dry jacket in which I dont freeze to death because of evaporation (assuming below 80F temperatures).
The only annoyance, the best raincoat have an elastic band (not pointless velcro) to close the sleeve, not a zipper like jackets. It is kind a complicated to put the long gloves in between those 2, especially the 2nd sleeve. (because you cant put the gloves before the raincoat since it is even harder to zip up the rain coat with gloves...