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 - Combine sliced peaches, brown sugar, cinnamon, and nutmeg in a bowl. Toss gently to coat peaches evenly. Set aside until needed.
03 - Beat softened butter and granulated sugar in a large bowl until pale and fluffy, approximately 3–4 minutes. This creates the cake's tender crumb structure.
04 - Add eggs one at a time, beating thoroughly after each addition. Incorporate vanilla and almond extracts, mixing 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. Mix only until just combined to avoid tough texture.
07 - Gently fold diced peaches into batter using a spatula, taking care not to overmix.
08 - Spread half the batter evenly in prepared pan. Arrange spiced peach filling over batter in an even layer. Top with remaining batter and smooth surface.
09 - Bake for 1 hour to 1 hour 10 minutes until a wooden skewer inserted in center emerges clean or with few moist crumbs.
10 - Let cake rest in pan for 20 minutes to set structure. Carefully invert onto wire rack and cool completely before glazing.
11 - Whisk powdered sugar, milk, and vanilla extract in small bowl until smooth and pourable. Adjust consistency with additional milk if needed.
12 - Drizzle glaze over completely cooled cake, allowing it to cascade down the sides. Let glaze set briefly before slicing and serving.