Provided are a metal dispersion liquid which includes tabular metal particles A having an average aspect ratio of greater than 20, which is a ratio of an average equivalent circle diameter to an average thickness, and an average equivalent circle diameter of 50 nm to 1000 nm, metal particles B having an average aspect ratio of 1 to 15 and an average equivalent circle diameter of 1 nm to 150 nm, and water, in which an average equivalent circle diameter A1 of the tabular metal particles A and an average equivalent circle diameter B1 of the metal particles B satisfy Expression (1), and a content a of the tabular metal particles A and a content b of the metal particles B with respect to a total mass of the metal dispersion liquid satisfy Expression (2); and an application thereof. A1>B1  Expression (1) 0.0001≤b/(a+b)≤0.3  Expression (2)