Xcode4 Build Error - "couldn't add 'com.apple.XcodeGenerated' ta"

warning: couldn't add 'com.apple.XcodeGenerated' tag to '/Users/ErawppaArtist/Library/Developer/Xcode/DerivedData/Gem-fazbkuxrbdcggzdfnxewcqymqaey/Build/Intermediates/Gem.build': Error Domain=NSPOSIXErrorDomain Code=2 UserInfo=0x20212f0a0 "The operation couldn’t be completed. No such file or directory"

Solution

sudo chmod -R 777 /Users/XXX/Library/Developer/