Is Monero traceable?

I've heard quite a bit about Monero and its privacy-enhancing features, but I'm still not entirely clear on one aspect. Could you please clarify for me? Is Monero really untraceable? I've seen conflicting reports about this, and it seems to be a matter of significant debate. Some say that its ring signatures and stealth addresses make transactions completely anonymous, while others argue that there are still ways to trace Monero transactions, especially with the help of advanced analytical tools. Could you please shed some light on this matter for me? I'm really interested in understanding the true extent of Monero's privacy protections.