Cream together softened unsalted butter and granulated sugar until light and fluffy (about 3-5 minutes). Beat in eggs, vanilla extract, and almond extract.

In a separate bowl, whisk together all-purpose flour, baking powder, and salt. Gradually add to wet ingredients on low speed until just combined.

Cover dough and refrigerate for at least 30 minutes. Preheat oven to 350°F (175°C).

Scoop dough into small balls (about 1 inch) and create an indentation in each. Add a teaspoon of peach preserves and reshape the dough.

Bake shaped cookies on a lined baking sheet for 12-15 minutes until bottoms are golden. Let cool for 5 minutes.

Roll warm cookies in a mixture of granulated sugar and ground cinnamon for a sweet finish.