Combine sugar, corn starch and orange juice in a 2-quart saucepan.  Mix well and add peaches.

Bring to a boil over medium-high heat, stirring constantly; boil 1 minute.  Remove from heat and add peach liqueur and almond extract.

Serve over ice cream or pound cake.  For extra appeal, stir in 1/2 cup fresh raspberries just before serving.