Place 1/4 cup golden raisins in a bowl, and cover with boiling water. Let stand 15 minutes. Drain and pat dry; set aside.
Combine yeast and 1/4 cup warm water in a large mixing bowl; let stand 5 minutes.
Add 1 teaspoon vanilla, sugar, and next 6 ingredients to yeast mixture; beat at medium speed with an electric mixer until well blended. Gradually stir in enough flour to make a soft dough.
Turn dough out onto a well-floured surface, and knead until dough is smooth and elastic (about 10 minutes). Place in a well-greased bowl, turning to grease top.
Cover and let rise in a warm place (85°), free from drafts, 1 hour or until doubled in bulk.
Punch dough down; turn out onto a well-floured surface. Press dough flat, and work golden raisins, almonds, and orange peel evenly into dough.
Shape dough into a ball; press, seam side down, into a greased 2-pound coffee can, filling half of can.
Cover with wax paper, and let dough rise in a warm place (85°), free from drafts, 30 to 45 minutes or just until dough reaches top of can. (Do not let rise above top.)
Bake at 375° for 40 to 45 minutes or until a long wooden pick inserted in center comes out clean. Remove from can, and place on a serving plate.
Stir together remaining 1/2 teaspoon vanilla, powdered sugar, and milk until mixture is blended; spread over warm bread. Press 1/2 cup raisins into top of bread, forming initials "XB."