I think you wildly misunderstood what the other commenter was trying to get at, namely that you are trying to extrapolate a gobal and relatively volatile value of a single material to the scale of the entire gobal economy. If for instance a major mine was forced to shut down then you would see a major increase in the price of gold, but no change to the economy as a whole outside of a small fraction of the aforementioned change making its contribution to the outputs of a few niche industries.
Moreover if a commodity can work as a pure measure of inflation in the economy then we would expect the gobal price index of all commodities to provide a more accurate measure, right? Actually doing that relative to USD however actually shows minor deflation since Q3 2023, which itself saw a whopping 30% deflation between 2022 and 2023.
Given these numbers do not seem at all indicative of my personal or observed change in the average price of goods and services across the entire economy, it would seem that commodity prices don’t have a significant direct correlation with inflation.
If it makes you feel any better, modern climate and economic studies have shown that even a full scale nuclear war involving every nuclear power at the height of the Cold War and when nuclear stockpiles were far larger than today we still wouldn’t have come very close to actually killing off all the humans on earth, with the vast majority of the casualties being owed to famine in regions that were/are heavily dependent on western fertilizer. Indeed entire nations in the southern hemisphere tend to get through such senecios without much of an direct effect from world war three.
Mostly this change from earlier predictions came from being able rule out the theory of a nuclear winter as climate modeling became more accurate and we could be sure that the secondary fires from such a war could not carry ash into the upper atmosphere in significant quantities, which was practically shown when a climate change fueled wildfire in Australia got so large that it should have been able to carry the ash into the upper atmosphere under nuclear winter theory but none was observed, validating modern climate models.
Also, dispite what some less scrupulous journalists trying to drum up clicks have posted on the Ukraine War, the Russian government itself hasn’t really made any major signaling moves with regards to bringing nukes into the conflict, and indeed has maintained and repeatedly reiterated Putin’s 2010s no first use policy when asked.
Don’t get me wrong, this is not the result of some greater Russian morals or whatever, but just a consequence of the inherent risk that such posturing could lead to nuclear escalation and breaking the nuclear taboo or even just other nations actually believing they plan to, and such scenarios end very badly for Russia in general and Putin in particular.