diff --git a/lib/bundler.rb b/lib/bundler.rb
index beac9f1dff3..82182d30eb2 100644
--- a/lib/bundler.rb
+++ b/lib/bundler.rb
@@ -430,7 +430,7 @@ def load_gemspec(file, validate = false)
 
     def load_gemspec_uncached(file, validate = false)
       path = Pathname.new(file)
-      contents = read_file(file)
+      contents = File.open(file, "r:UTF-8", &:read)
       spec = if contents.start_with?("---") # YAML header
         eval_yaml_gemspec(path, contents)
       else
diff --git a/spec/install/gemspecs_spec.rb b/spec/install/gemspecs_spec.rb
index 5b6778bdd4f..ef5e8e90e61 100644
--- a/spec/install/gemspecs_spec.rb
+++ b/spec/install/gemspecs_spec.rb
@@ -63,6 +63,33 @@
     expect(out).to include("Bundle complete!")
   end
 
+  it "reads gemspecs respecting their encoding" do
+    skip "unicode constants are most likely not supported on 1.8" if RUBY_VERSION < "1.9"
+
+    create_file("version.rb", <<-RUBY)
+      module Persistent💎
+        VERSION = "0.0.1"
+      end
+    RUBY
+
+    create_file("persistent-dmnd.gemspec", <<-G)
+      require_relative "version"
+
+      Gem::Specification.new do |gem|
+        gem.name = "persistent-dmnd"
+        gem.version = Persistent💎::VERSION
+        gem.author = "Ivo Anjo"
+        gem.summary = "Unscratchable stuff"
+      end
+    G
+
+    install_gemfile <<-G
+      gemspec
+    G
+
+    expect(out).to include("Bundle complete!")
+  end
+
   context "when ruby version is specified in gemspec and gemfile" do
     it "installs when patch level is not specified and the version matches" do
       build_lib("foo", :path => bundled_app) do |s|