Let the ham sit at room temperature for 30 minutes before baking. Preheat the oven to 325ºF. Line a rimmed baking sheet with foil.

Unwrap the ham and discard the glaze mixture, if included. Place the ham on the baking sheet. Cover with foil and bake for 10 minutes per pound.

While the ham is baking, make the glaze. In a small saucepan, combine the peach preserves with the minced chili pepper. Heat over low heat until the preserves are melted.

Twenty minutes before the ham is done, remove it from the oven, discard the foil, and brush with the glaze. Bake, uncovered, for the remaining 20 minutes.

Serve warm or at room temperature.