In the Nebelstein area, molybdenite-bearing greisens occur together with peraluminous leucogranites. In the compositional change of the granites to the greisens, there is an almost complete loss of Na, combined with a decrease in Ca, Mg, Sr, and Ti concentrations. The progressive alteration is reflected by lower homogenization temperatures and increasing salinity in aqueous fluid inclusions. The fluid regime prior to greisenization was water-dominated with low salt contents, while the early stage of the greisen development was characterized by a mixed fluid containing carbon dioxide and water. This was succeeded by a moderate saline aqueous fluid which caused the mineralization by exchange of metal ions for Na+(Ca2+, K+). A negative correlation between salt content in fluid inclusions and Na2O concentrations in the bulk rocks supports this model. Mass balance calculations for this interaction yield a minimum fluid-rock ratio of approximately 2 : I. Greisenization took place at a minimum pressure of 180 MPa (1.8 kb) and in a temperature range between 200 and < 400 °C.