In a small saucepan, combine wine, sugar, balsamic vinegar, citrus peel, and spices. Bring to a boil and reduce to 3/4 cup, approximately 5 minutes.
Remove from heat. Strain and return liquid to pan; set aside.
In a small bowl, mix cornstarch with water.
Bring wine mixture back to a boil; whisk in cornstarch mixture, and simmer until thickened, about 2 minutes. Add cherries and simmer to heat through.
Remove from heat; add almond extract.
Black Cherry Sauce Recipe: https://whatscookingamerica.net/Sauces_Condiments/BlackCherrySauce.htm