R. Dean Davis, HCJ, p 48 points to this passage as an example of God’s throne being in Zion and then contrasts with Psalm 11:4-5 and the location of the throne in Heaven to point toward ontological cosmological unity. Though I appreciate and affirm the conclusion, it seems highly doubtful that v 7-8 refers to Zion. His enduring throne in Heaven that will not be moved (see Ps 9:4 as well) is what is in view.