For me, I solved this issue by uninstalling and then again installing CocoaPods with --pre
with the command
sudo gem uninstall cocoapods
sudo gem install cocoapods --pre
Hopefully this will solve your problem.
Update
CocoaPods has released version 1.2.0, so you can now install using
sudo gem install cocoapods
And you will get version 1.2.0 installed
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