In a large mixing bowl, cream together the butter and sugar until light and fluffy, about 3-4 minutes. Beat in the eggs, vanilla extract, and almond extract until well combined. Gradually add the flour, baking powder, and salt, mixing until a soft dough forms.

Wrap the dough in plastic wrap and refrigerate for about 30 minutes.

Divide the chilled dough into small portions, roll each into a ball, and press a thumbprint in the center. Fill the thumbprint with peach preserves.

Mix the granulated sugar and ground cinnamon in a small bowl, then roll each filled cookie in the mixture until fully coated.

Arrange on a baking sheet and bake in a preheated oven at 350°F for 12-15 minutes, until lightly golden.

Let the cookies cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely.