Aqueous dispersion obtainable by placing in water an aggregated titanium dioxide powder having a specific surface area of from 20 to 150 m2/g in such an amount that the desired dispersion comprises at least 20 wt. % titanium dioxide, and at least onc amino alcohol having from 1 to 6 carbon atoms, and at least one carboxylic acid from the group comprising dibasic carboxylic acids and/or hydroxycarboxylic acids having from 2 to 6 carbon atoms,—the amino alcohol being present in the dispersion in an amount of from 2.5 to 7.0 μmol./m2 specific surface area TiO2 and the carboxylic acid being present in an amount of from 1.0 to 3.5 μmol./m specific surface area TiO2,—producing a pre-dispersion by introducing energy in an amount of less than 200 kJ/m3 and then producing a dispersion in which the aggregated titanium dioxide powder has a mean, volume-related aggregate diameter of less than 150 nm by grinding the pre-dispersion by means of a high-energy mill at a pressure of at least 500 bar. The dispersion can be used in the coating of glass, ceramics and metal surfaces.