In a large bowl, beat butter and sugar with a mixer at medium speed until fluffy, 3 to 4 minutes, stopping to scrape sides of bowl. Add eggs, one at a time, beating well after each addition. Stir in extracts.
In a small bowl, combine sour cream and gelatin. In another large bowl, whisk together flour, salt, baking soda, cinnamon, and nutmeg. Gradually add flour mixture to butter mixture, beating at low speed until combined. Fold in sour cream mixture and peaches.
Spray a 10-inch tube pan with baking spray with flour. Spoon batter into prepared pan.
Bake for 1 hour. Cover loosely with foil, and bake until a wooden pick inserted near center comes out clean, 40 to 50 minutes more. Let cool in pan for 10 minutes. Remove from pan, and let cool completely on a wire rack.
Notes
KITCHEN TIP Want to mix it up? Try using a different fruit-flavored powdered gelatin.
Recipe by Taste of the South at https://tasteofthesouthmagazine.com/fresh-peach-pound-cake/