I don't have that particular case, but it looks very similar to a case I have for the Paperwhite2, and this cover definitely has a magnet that keeps it closed. The magnet is needed for the sleep function, there's just not any visible metal parts, it's all within the cover.
http://www.amazon.com/Moko-Amazon-Ki.../dp/B00H1OR9RK
As much as I hate the PW2, I love that case for it... it's the thinnest case I've ever seen, yet is very sturdy.
Edit: In fact I just ordered one of the Omoton cases for my Glo HD, thank you for helping me spend more money!
