In 1940, gold averaged $35 an ounce — about $803 in today's money. That was up 0.0% on the year in nominal terms (−1.0% after inflation). These were the turbulent interwar decades — war finance, the Depression, and the 1933–34 devaluation reshaped the monetary order, even as the official US price was pinned first at $20.67 and then at $35.
To see 1940 in the full sweep of the gold price, explore the 768-year ribbon, or find out what a 1940 gold investment would be worth today on the gold calculator.