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Place the raisins, golden raisins, craisins and orange peels in a bowl. Add the rum and stir everything together. Let it soak for at least 1 hour to overnight (or even a few days).
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Combine the yeast and milk in a large bowl (or the bowl of your stand mixer) and let it sit for 10 to 15 minutes. Add 2 cups of the flour and mix well. Let this mixture ferment for 2 hours or so, until it has doubled in bulk.
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Combine the remaining flour with the salt and spices and add this mixture to the large bowl. Add the butter, sugar and eggs, and use the dough hook of your mixer to combine all the ingredients together. Knead the dough until it is smooth and pliable – about 5 to 6 minutes. Let the dough rest and rise in a warm place for 1 to 2 hours, until it has doubled in bulk.
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Drain the dried fruit well and combine it with the nuts and lemon zest. Punch the dough down and roll it into a large circle. Scatter half of the fruit and nut mixture on the dough and press it into the dough with your fingers. Then fold the bottom half of the cough circle up over the fruit to form a half circle. Scatter the remaining fruit and nut mixture on top and press it into the dough. Roll the dough up around the fruit into a log. Divide the dough in half and gently knead each half, shaping it into a round, trying not to let the fruit or nuts burst out of the surface. Let the two rounds rest for about 30 minutes, covered with a clean kitchen towel.
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Now you are ready to shape the Stollen. Flip one of the dough rounds over on a lightly floured surface and roll it into a circle, about 8 to 9 inches in diameter. If using marzipan, roll the marzipan into a log and place it in the center of the circle. Fold the bottom third of the dough up over the marzipan log, or just past the center line of the circle if you are not adding marzipan. Lightly roll the dough over the marzipan to seal it into the dough. Fold the top third of dough down as you would fold a letter to fit into an envelope. Use your hands to shape the ends of the dough into an oval, cupping your hands around the sides. Repeat with the second round of dough and transfer both stollen loaves to a parchment paper-lined sheet pan. Cover with a clean kitchen towel and let the stollen rise one last time for about 30 to 60 minutes.
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Pre-heat the oven to 350˚F.
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Transfer the stollen to the oven and bake for 30 to 45 minutes (if you’ve filled the stollen with marzipan, it will take longer to bake), or until the breads are golden brown and sound hollow when you tap the bottom.
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Let the bread cool. Once cool, brush the outside of the stollen with melted butter and coat generously with powdered sugar.
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To store, wrap the stollen tightly with plastic wrap and store in a cool place. Stollen with “ripen” at room temperature in two weeks, allowing the flavors from the rum-soaked fruit to penetrate into the loaf. Freeze the stollen by wrapping in plastic first, then aluminum foil. Dust with powdered sugar again before serving.