In a small bowl, cover the raisins with an inch of hot water. Set aside so the raisins can soak up the liquid for 30 minutes.
In another small bowl, mix the warm milk, active dry yeast and granulated sugar. Set aside for about 10 minutes, until it becomes frothy on top.
In a large mixing bowl, whisk to combine the yeast mixture, eggs, salt, cinnamon, nutmeg, orange zest, and softened butter.
Add the flour, and mix with a large spoon until there’s no visible dry flour, and it forms a very sticky dough.
Thoroughly drain the raisins and add them to the dough along with the sliced almonds. Knead in the bowl until the raisins and almonds are distributed.
On a generously floured surface, knead the dough by hand for about 8 minutes, until the dough is mostly smooth and springs back to its original shape when you indent it with your finger. Add a sprinkle of flour as needed to prevent the dough from sticking to the counter as you knead it. Shape the dough into a ball. Place the dough back into the same mixing bowl, and cover with a kitchen towel. Let it rest and rise in a warm place (like an empty oven with the light turned on) for about 1 to 2 hours, until it doubles in size.
Line a baking sheet with parchment paper or a silicone baking mat.
Once the dough has doubled in size, lightly dust a clean work surface with flour. Divide the dough into three even balls. Roll each ball with your hands into a log that’s 24 inches in length. Press the tops of the three strands together, then braid them. Press the bottoms of the strands together. Carefully transfer the braid to the prepared baking sheet line, then shape the braid into a circle, and press the ends together. Cover with a kitchen towel and allow to rise for 30 minutes.
Preheat the oven to 350°F. Bake for 40 to 45 minutes, until the bread is golden.
Transfer to a cooling rack to cool for at least 20 minutes. Optional: Brush the warm loaf with apricot jam and sprinkle extra sliced almonds on top. Enjoy!!