Grease the bottom and 1/2 inch up sides of an 8x4x2-inch loaf pan; set aside. In a large bowl, stir together the flour, sugar, baking powder, salt, and baking soda; set aside.
In a medium bowl, combine the egg, milk, oil, and vanilla. Stir in the cherries, golden raisins, and lemon peel. Add the egg mixture all at once to the flour mixture. Stir just till moistened (batter should be lumpy). Spoon the batter into the prepared pan.
Bake in a 350°F oven for 1 hour or till a wooden pick inserted near the center come out clean. Cool in pan on a wire rack for 10 minutes. Remove from pan. Cool completely on a wire rack. Wrap and store overnight at room temperature before serving.
Before serving, prepare the Lemon Glaze. Drizzle the glaze over the loaf.
In a small bowl, combine powdered sugar and lemon peel. Stir in enough lemon juice to make a smooth and creamy glaze of drizzling consistency.