The speaker is in love with someone they can't bring themselves to tell. Every line circles the same problem: they want to speak, but fear and self-doubt keep getting in the way. They blame their own "folly" and "madness" for pushing the other person away, and they admit that whenever they get close, they pull back and put up their guard. There's a sad sense of resignation, too. The speaker expects the loved one to move on and "love others," while their own heart keeps beating "to the beat of the quiet drum."
The repeated phrase "silent revelation" ties it together. A glance, a chance, a touch: each one shows the speaker's feelings without a single word being said. By the end, the loved one is the revelation. The mood is wistful and aching, a mix of tenderness and regret over a love that stays hidden.