For You preceded him with the blessings of goodness: You set a crown of pure gold on his head.
Before Dovid Hamelech even asked, Hashem gave him a bracha promising Dovid the throne of Melech Hamashiach from his seed, and then Hashem crowned him permanently; that his Malchus will endure with honor and greatness.
Our words create a reality. Hashem created the world with ten utterances  We can use this pasuk, to daven for this Bracha; of the throne of Dovid established with the crowning of Melech Hamashiach.
This verse is referring to a time of Brachos, just as it was before the consequences of curses were placed on earth. Living in a world of redemption is a world of Brachos.
May we use our conversation, our power of words to have victory over our enemies and live in a world that Hashem’s Kingdom is recognized as The Only Melech of all.