In a medium-sized saucepan, combine the fresh cranberries and orange juice.
Bring the mixture to a boil over medium-high heat. Once boiling, reduce to a simmer.
Add the granulated sugar, ground cinnamon, and ground nutmeg to the simmering cranberries. Stir well until the sugar is dissolved, and the cranberries begin to burst (about 10 minutes).
Once most of the cranberries have burst and the sauce has thickened, remove the saucepan from heat.
Stir in the chopped walnuts (or pecans), dried cherries, and orange zest. Mix until well combined.
Allow the sauce to cool at room temperature, then transfer to a serving dish or airtight container.
Refrigerate for at least 1 hour before serving to allow the flavors to meld.
Notes
Serve in a beautiful bowl and garnish with additional chopped walnuts and orange slices for presentation.