Panettone

Ingredients

• 1 tablespoon plus 1 ½ teaspoons active dry yeast (two 1⁄4-ounce envelopes)
• ⅓ cup whole milk, warmed
• 3 cups unbleached bread flour, plus more for surface
• 1⁄4 cup granulated sugar
• 4 large eggs, lightly beaten, plus 1 large egg
• 1 ½ teaspoons coarse salt
• 2 ½ sticks unsalted butter, room temperature
• ½ teaspoon pure almond extract
• ½ teaspoon pure orange extract
• 1 cup diced candied (glazed) orange peel
• 1 1⁄4 cups golden raisins
• Vegetable oil, for bowl
• Pearl sugar, for sprinkling, optional
• 1⁄4 cup plus 2 tablespoons sliced almonds, for sprinkling

Instructions

1. 1
   Sprinkle yeast over milk in the bowl of a mixer fitted with the dough-hook attachment. Let stand until foamy, about 5 minutes. Sprinkle 2 ounces flour (about 1/2 cup) and 1 tablespoon granulated sugar over top. Cover with plastic, and let stand for 1 hour.
2. 2
   Add remaining 12 ounces flour and 3 tablespoons granulated sugar, the beaten eggs, and the salt. Mix together on medium speed until dough forms a smooth, stiff ball, about 5 minutes. Add butter, 1 tablespoon at a time, mixing well after each addition. Mix dough on medium-high speed for 5 minutes. Reduce speed to low, and add extracts, orange peel, and raisins. Mix until combined.
3. 3
   Turn out dough onto a clean surface, and form into a ball. Transfer to a lightly oiled bowl. Cover with plastic, and refrigerate overnight.
4. 4
   Bring dough to room temperature, and divide in half. Form each half into a ball; place each in a 5 1/4-by-3 3/4-inch paper panettone mold or a small brown paper bag that has been rolled down to about 5 inches. Transfer to a baking sheet. Cover with plastic wrap and let stand in a warm place until doubled in volume, about 2 hours.
5. 5
   Preheat oven to 350 degrees. Lightly beat remaining egg. Brush egg wash onto panettone dough, and sprinkle with pearl sugar and almonds. Bake until golden brown, about 50 minutes.
6. 6
   Remove molds from oven, and run two wooden skewers horizontally through the center of each panettone loaf. Hang loaves upside down by propping ends of each skewer on 2 large heavy canisters or cans. Let cool completely.