Begin by creaming the softened unsalted butter and granulated sugar in a large mixing bowl using an electric mixer until light and fluffy (about 2-3 minutes). Add in the eggs, vanilla extract, and almond extract, mixing until combined.

In a separate bowl, whisk together the all-purpose flour, baking powder, and salt until well blended. Gradually add this dry mixture to the wet ingredients, mixing on low speed until a soft dough forms (about 1-2 minutes).

Cover the dough with plastic wrap and refrigerate for at least 30 minutes.

Preheat your oven to 350°F (175°C). Scoop out portions of dough and roll them into balls about the size of a golf ball. Make an indent in the center and fill it with peach preserves (about 1 teaspoon per cookie).

Arrange the filled cookie dough balls on a baking sheet lined with parchment paper, spacing them about 2 inches apart. Bake for 12-15 minutes until the bottoms are lightly golden.

Allow the cookies to cool on the baking sheet for about 5 minutes before transferring to a wire rack. Roll them in granulated sugar mixed with ground cinnamon while still warm.