If you are examining the description of the old man and thinking about the significance of his wrinkles, his poverty, and his silence, you are engaging in

interpretation
analysis
evaluation

The correct answer is: Analysis.

An analysis is defined as a detailed examination of a specific element in order to understand its nature or to determine its essential features.

In this example, the speaker "examines" the features of an old man with the intent of finding an explanation for his current state. Therefore, it is fair to say the speaker is engaging in an analysis.

do you have a copy of the poem?