01 - Preheat oven to 325°F. Thoroughly grease and flour a 12-cup bundt pan or tube pan, ensuring all crevices are coated to prevent sticking.
02 - In a medium bowl, combine sliced peaches with brown sugar, cinnamon, and nutmeg. Toss gently to coat evenly and set aside to macerate.
03 - In a large mixing bowl, beat softened butter and granulated sugar together on medium-high speed until pale and fluffy, approximately 3–4 minutes.
04 - Add eggs one at a time, beating well after each addition until fully incorporated. Mix in vanilla and almond extracts until combined.
05 - In a separate bowl, whisk together flour, baking powder, salt, cinnamon, and nutmeg until evenly distributed.
06 - Gradually add dry ingredients to butter mixture in three additions, alternating with sour cream in two additions. Begin and end with dry ingredients, mixing until just combined.
07 - Gently fold diced peaches into batter using a spatula, being careful not to overmix.
08 - Spread half the batter evenly into prepared pan. Arrange reserved peach filling over batter in an even layer. Top with remaining batter and smooth surface with spatula.
09 - Bake for 60–70 minutes until a wooden toothpick inserted in center comes out clean or with few moist crumbs. If top browns too quickly, tent loosely with foil after 45 minutes.
10 - Let cake cool in pan for 20 minutes before carefully inverting onto wire rack to cool completely.
11 - Whisk powdered sugar, milk, and vanilla extract in small bowl until smooth and drizzling consistency. Add additional milk ½ teaspoon at a time if needed.
12 - Drizzle glaze over completely cooled cake, allowing it to run down sides. Let set for 10 minutes before slicing and serving.