ASX 200 hits a 6! Thank iron ore

The S&P/ASX 200 Index (ASX: XJO) has just hit a 6! Cricket metaphors aside, the ASX 200 has just notched up its sixth straight week of gains, leaving it just below the level at which it started the year. It’s worth saying that even though last week kept this streak alive, it was only by a wicket (sorry!).

After a strong start to the week, losses later on pulled the ASX back to Earth, and resulted in the index notching up a week-to-week gain of just 0.1%. Even so, it doesn’t matter if you win by an inch or a mile, to quote a great racing film, and at the same time this week, we will see if the streak runs (I’ll stop now) to 7.

The iron price pays

We can probably thank the resources sector for the ASX’s week in the green,…