What makes you cry?

and then I added my own interpretation

I read the lyrics, no one died; the old man is just feeling nostalgic for the good old days.

You have gray hair now but you're a beautiful woman and the years have been good to both of us. We walk slow now, but we still have each other. The glue of love is still bonding us together. Love is what I remember. Do you remember?

If, after the quote, this passage is still unclear, here's the translation into Russian:
Your hair is now gray, but you are a beautiful woman, and the years have been good to both of us. We walk slowly now, but we still have each other. The glue of love still binds us together. Love is what I remember. Do you remember?