In a large bowl, cream butter and sugar until light and fluffy.
Add eggs, one at a time, beating well after each addition. Beat in vanilla.
Combine the flour, baking powder, baking soda and salt; add to creamed mixture alternately with buttermilk, beating well after each addition.
Pour into a greased and floured 10-in. tube pan. Bake at 350° until a toothpick inserted in center comes out clean, 55-70 minutes. Cool 10 minutes. Run a knife around edges and center tube of pan. Invert cake onto a wire rack over waxed paper.
For sauce, combine the sugar, butter and water in a small saucepan. Cook over medium heat just until butter is melted and sugar is dissolved. Remove from the heat; stir in extracts.
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