$1,000 in 1960 is worth $9,390 today

I venture to say that it's more than a nine-times multiplier.

An ounce of gold in 1970 was $35. A Rolex watch in 1970 was $210, or exactly six ounces of gold.

That same watch today is over $8000, six ounces of gold today are $10,740. Taking both cases, the multiplier for the watch is around 38 times, and for the gold it's around 50 times (both roughly the same order of magnitude). For the sake of argument, let's average those two multiplier figures. We get a multiplier of 44 times.

Therefore $1000 in 1970 (or therabouts) is today worth $44,000, far more than the $9,390 mentioned above.

(At a multiplier of 44 times, a single 2020 dollar is worth a mere two and a quarter cents in 1960s money.)