Mix the raisins and candied peel with orange juice or rum. Set aside while you make the dough.

In the mixer bowl, combine the flour, sugar, yeast, and salt. Add the warm milk, eggs, yolks, vanilla, and zests. Knead on low for 5 minutes until a sticky dough forms.

With the mixer on medium-low, add the butter one tablespoon at a time, waiting until each piece disappears. Knead 10 to 12 minutes more until the dough is smooth, shiny, and pulls away from the bowl.

Drain the fruit and pat it dry. Knead it in on low just until evenly distributed.

Place the dough in a greased bowl, cover, and refrigerate 12 to 16 hours. This builds flavor and makes the dough easier to shape.

Shape the cold dough into a tight ball and place it in the paper mold. Cover and let rise in a warm spot for 3 to 4 hours, until the dough domes about 1 inch above the rim.

Heat the oven to 350°F. Brush the top with beaten egg and sprinkle with pearl sugar. Bake 45 to 55 minutes, tenting with foil after 20 minutes, until the center reaches 190°F.

Immediately push two skewers through the base of the mold, then hang the panettone upside down between two tall objects. Cool completely, about 4 hours.