No sound at all emitted through the speakers even though i see the spectral display of sound on the desktop player indicating that music is playing.

Down in the lower right corner of your PC display. Click the speaker icon and go to "Mixer" You can turn on or off the different sound outputs.
Hope this helps.

Check if the speakers are plugged into a correct "hole" on your computer. Usually it should be the one colored green. If no green, then look for black. Sometimes it also has a symbol (headphones) or word "out".

Also, check if your speakers need power in order to produce sound. Things usually work better when turned on.
;)

Do your speakers require power? If so are they powered? You can tell just by hearing static/noise when you disconnect the speakers connector and plug it back in.

If they are not powered, are you sure you are plugged into the correct port on the PC? It will have 2 half circles with an arrow pointing outward.

If none of the above work, try plugging the speakers into something else to see if they work, like a CD player, or cell phone (if you have a new one with RCA output). This will check and see if the speakers are actually working or not.