01 - Preheat oven to 325°F. Generously 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, brown sugar, cinnamon, and nutmeg. Toss gently to coat evenly. Set aside while preparing batter.
03 - Using a stand mixer or hand mixer, beat softened butter and granulated sugar on medium-high speed until light and fluffy, approximately 3–4 minutes. Scrape down bowl as needed.
04 - Add eggs one at a time, mixing thoroughly after each addition. Incorporate vanilla and almond extracts, mixing until fully combined.
05 - In a separate large bowl, whisk together flour, baking powder, salt, cinnamon, and nutmeg until well blended.
06 - Gradually add dry ingredients to butter mixture, alternating with sour cream. Begin and end with flour mixture, mixing on low speed until just combined. Avoid overmixing.
07 - Gently fold diced peaches into batter using a spatula, taking care not to crush fruit pieces.
08 - Spread half the batter evenly into prepared pan. Arrange reserved peach filling over batter, leaving slight border from edges. Top with remaining batter, smoothing surface with spatula.
09 - Bake for 60–70 minutes until golden brown and a toothpick inserted in center emerges clean or with moist crumbs. If top browns too quickly, tent loosely with foil after 45 minutes.
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 for desired thickness.
12 - Drizzle glaze evenly over cooled cake. Allow glaze to set briefly before slicing and serving.