Mix sugar and honey with the peaches.
Cover ground orange with water and cook until the peel is soft.
If more water is needed to finish cooking the orange peel, add just enough to prevent sticking.
Cook peaches over low heat until the sugar dissolves.
Increase heat and boil about 15 minutes; add orange mixture; and boil until peaches are transparent and syrup is as thick as honey.
Stir almond extract into peach preserves.
Remove from heat.
Skim foam if necessary.
Pour hot into hot jars, leaving 1/4 inch head space.
Process for 15 minutes in boiling water bath.