Blend beef, milk, crumbs and seasonings in bowl. Shape mixture into 1 1/2 to 2-inch balls. In large skillet brown meatballs. Remove and keep warm. Lower heat and add peach sauce to meat drippings. Simmer 10 minutes. Add meatballs to sauce and coat thoroughly. Cover and simmer 45 to 60 minutes.
Transfer meatballs to chafing dish. If needed blend cornstarch and 1 Tbsp water. Add to sauce and cook stirring until thickened. Pour over meatballs.
Servings: