Grease a 10-inch tube pan or Bundt pan. Set aside. Preheat oven to 325° F.
In a large bowl, use an electric mixer to cream together butter and sugar until light and fluffy (this can take up to 10 minutes). Add the eggs, one at a time, and mix until incorporated. Stir in sour cream, vanilla extract and almond extract.
Sift together 2 ¾ cups flour, baking powder, baking soda and salt. Gradually add to the batter and mix just until combined.
In a medium bowl, toss together remaining ¼ cup flour, cinnamon, nutmeg and ginger. Add diced peaches and stir to coat in the flour mixture.
Fold the peaches into the batter.
Transfer batter to the prepared pan.
Bake for 70-80 minutes (or until a toothpick inserted in the center comes out clean). Cool in the pan for about 20 minutes, and then remove to a wire rack to cool completely.
Once the cake is cool, dust with powdered sugar just before serving.