Precipitation as a key determinant of forest productivity influences forest ecosystems also indirectly through alteration of the nutrient status of the soil, but this interaction is not well understood. Along a steep precipitation gradient (from 970 to 520 mm yr<sup>−1</sup> over 150 km distance), we studied the consequences of reduced precipitation for the soil and biomass nutrient pools and dynamics in 14 mature European beech (<i>Fagus sylvatica</i> L.) forests on uniform geological substrate. We tested the hypotheses that lowered summer precipitation (1) is associated with less acid soils and a reduced accumulation of organic matter on the forest floor, and (2) reduces nutrient supply from the soil and leads to decreasing foliar and root nutrient concentrations. Soil acidity, the amount of forest floor organic matter, and the associated organic matter N and P pools decreased to about a half from wet to dry sites; the C/P and N/P ratios, but not the C/N ratio, of forest floor organic matter decreased. Net N mineralization (and nitrification) rate and the available P and K pools in the mineral soil did not change with decreasing precipitation. Foliar P and K concentrations (beech sun leaves) increased while N remained constant, resulting in decreasing foliar N/P and N/K ratios. N resorption efficiency increased toward the dry sites. We conclude that a reduction in summer rainfall significantly reduces the soil C, N and P pools but does not result in decreasing foliar N and P contents in beech. However, more effective tree-internal N cycling and the decreasing foliar N/P ratio towards the dry stands indicate that tree growth may increasingly be limited by N and not by P with decreasing precipitation.