Rinse the cranberries in a strainer, and make sure to pick out any little stems or shriveled or bruised berries.
In a large saucepan combine the water and the sugar. Bring to a boil over high heat, then reduce the heat and simmer until the sugar has completely dissolved and the mixture is reduced by half, about 4 minutes. Add the cranberries and return to a simmer. Simmer, stirring occasionally, until the berries have burst, about 15 minutes. Add the orange juice and zest, lemon zest and simmer for another 2 to 3 minutes.
Remove from the heat and let cool to room temperature. You can store in in the fridge for up to 2 weeks, or freeze it in an airtight container for up to 6 months. Bring to room temperature before serving.
Notes
If you are planning to make it ahead of the Thanksgiving meal, you’ll get the freshest sauce if you make it within a week of serving, and store it covered in the fridge. But in terms of how long cranberry sauce will keep, you can definitely hold it for about two weeks in the fridge, and it will still be delicious and fine to eat.