In a small saucepan, stir together the pumpkin puree and spices over medium-low heat. Stirring continuously, cook for about 1 minute, or until fragrant and slightly golden.
Whisk in the water and sugars and continue to whisk until the sugars have dissolved and everything is smooth. Remove from heat and allow to cool for 15 minutes at room temperature.
Transfer the syrup to an airtight container and store in the fridge for up to 7 days.
**Optional: Allow the syrup to cool in the fridge until it separates, then strain the pumpkin solids out with a fine mesh strainer.