01 - Preheat oven to 325°F. Generously grease and flour a 12-cup bundt pan or tube pan, ensuring all crevices are coated for easy release.
02 - Toss sliced peaches with brown sugar, cinnamon, and nutmeg in a bowl until evenly coated. Set aside to macerate while preparing batter.
03 - Beat softened butter and granulated sugar in a large bowl until pale and fluffy, approximately 3-4 minutes. Scrape down bowl sides as needed.
04 - Add eggs one at a time, mixing thoroughly after each addition. Incorporate vanilla and almond extracts until fully blended.
05 - Whisk together flour, baking powder, salt, cinnamon, and nutmeg in a separate bowl until uniformly distributed.
06 - Gradually add dry ingredients to butter mixture, alternating with sour cream. Begin and end with flour mixture, mixing until just combined. Avoid overmixing.
07 - Gently fold diced peaches into batter using a spatula, maintaining light texture.
08 - Spoon half the batter into prepared pan. Spread reserved peach filling over batter layer. Top with remaining batter and smooth surface with spatula.
09 - Bake for 1 hour to 1 hour 10 minutes until toothpick inserted in center emerges clean or with minimal moist crumbs.
10 - Let cake cool in pan for 20 minutes. Carefully invert onto wire rack and cool completely before glazing.
11 - Whisk powdered sugar, milk, and vanilla extract in small bowl until smooth and drizzling consistency. Adjust milk as needed.
12 - Drizzle glaze evenly over completely cooled cake. Allow glaze to set briefly before slicing and serving.