Stir 1 3/4 cup water, currant jelly, cider vinegar, and lemon juice into hot butter. Simmer over low heat until jelly dissolves and mixture is the color of maple syrup, 5 to 10 minutes.
Slowly stir white sugar and brown sugar into currant jelly mixture, stirring constantly, until well incorporated.
Stir dark raisins, golden raisins, salt, and cloves into currant jelly mixture and simmer for 5 minutes.
Whisk 1 tablespoon cold water with cornstarch in a small bowl until fully blended. Stir into raisin sauce and simmer until thickened, at least 5 minutes.
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White or apple cider vinegar can be used, depending on your taste; flour could be used instead of cornstarch - your choice, depending on how thick you want the sauce to be. Also, currant jelly is the choice of my family, but any tart jelly can be used, such as apple.