I have also been using these magnetic tool holder trays from Harbor Freight.
The magnets work both ways. In the pic you can see the most used allen keys hanging right to hand on the holder.
I also have one of the small ceramic magnets stuck on the back side of the tail stock. The drill chuck key hangs on there pretty tightly. It hasn't ever fallen off and I never lose it in the chip pan so it works pretty well.
It's on the down side side of the tailstock and is out of the way.