Let E be a Real or Quaternionic Hermitian vector bundle over a Klein surface M. We study the action of the gauge group of E on the space of Galois-invariant unitary connections and we show that the closure of a semi-stable orbit contains a unique unitary orbit of projectively flat, Galois-invariant connections. We then use this invariant-theoretic perspective to prove a version of the Narasimhan-Seshadri correspondence in this context: S-equivalence classes of semi-stable Real and Quaternionic vector bundes are in bijective correspondence with equivalence classes of certain appropriate representations of orbifold fundamental groups of Real Seifert manifolds over the Klein surface M.