On our 12 year old peach trees I am seeing rows of small wounds oozing red sap on some upper branches, The wounds are a few inches apart. The branches are three to six feet off the ground, higher than you would expect for lesser peach tree borers, which I have in cracks in the bark in the lower trunk and crotches. Peach twig borers feed on the tips of new branches first and I have no sign of that. The trees have an abundant fruit set, and do not look like they are suffering from this damage, but if it is some kind of insect I want to get it under control.
Frass comes with the resin with borers, but peaches do that under different kinds of stress, even over-cropping. If trees have sustained their vigor all will probably be well.
I have a similar aged peach tree with the same gumossis condition. I attempted to remove the infected areas to clean wood but this only exposed an ever-continuing run of diseased wood, and I had to stop unless I wanted no bark on the tree. The result was an even greater amount of gumming pouring from the areas I removed. My tree has also been producing abundantly, and still continues to after the “pruning” attempt. I would just leave your tree alone, unless its a small unproductive branch that can be fully removed to clean wood ( or on a variety which can be easily killed from bacterial cankers such as cherry trees )
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I don’t know if what is ailing your peach tree is the same as the gumosis I’ve found in orchards I manage, but for the issue we have, ample nitrogen and mulching trees seems to be helpful, and don’t let them experience too much drought stress.