Answer:
I would say the sentence gives more of a negative connotation because you were describing that the woman has “a lot” of jewelry, or bling. Saying “a lot” is meaning more than expected. The image I would imagine is like the woman has necklaces and bracelets and rings and sparkly clothing. I wouldn’t say it gives an appropriate way to describe your grandmother because when I think of having a lot of “bling” I think of a younger woman in her 20s delete 40 is not an older woman.