Existing Xbox Live Gold members will automatically transition to Game Pass Core when it becomes available. Games with Gold will end on September 1st, but subscribers will still retain access to any Xbox One games they have claimed, regardless of whether they are Core or Ultimate members. Redeemed Xbox 360 games will be owned permanently, even if the subscription lapses.
Microsoft has been signaling its intention to change Xbox Live Gold for some time. It discontinued offering year-long subscriptions in 2020 and removed Xbox 360 games from the service in 2022. The company had planned to increase the price of Gold in 2021 but swiftly reversed that decision.