The 29-year-old missed Real's recent UEFA Champions League clash with CSKA Moscow, which they lost 1-0 away from home, due to injury, and also limped off the field in their 1-0 loss to Alaves in the league last weekend, leading Real to believe he would not be joining up with Wales in the global break.
The coach expects another convincing performance against Wales from his players, who will face England in Monday's Nations League clash in Seville.
'We don't want to take any risks and we are monitoring it every day. "It's a game that allows me to try out different things".
"He feels good but we have to weigh up the risk whether he can be part of the game on Tuesday".
"We rescanned it and have done everything we can to get as much information", Giggs said at his pre-match press conference.
"There was a little bit on both scans - but there's always something".
"We have analysed Wales with Bale in the team, and he has great speed, but it does not change anything for us", Enrique said, as quoted by Wales Online. "We'll miss him, we hope he's available for as many games as possible", the Stoke City defender explained.
Former Manchester United winger Giggs said Spain, under new boss Luis Enrique, would be tough opponents.
Spain under Luis Enrique, who took over the national team following La Roja's round-of-16 shootout defeat to Russian Federation at the World Cup, has looked impressive with a 2-1 win away to England and a 6-0 rout of Croatia in the UEFA Nations League.