(Update) Xbox Live Gold price increased, six-month subscription will be $60 [Destructoid]

[Update: In a welcomed reversal, Microsoft has announced it is not going to change the price of Xbox Live Gold. Not only that, but it is changing its policy on free-to-play games. In the coming months, players will no longer need a paid subscription to play free-to-play games on Xbox consoles.]
Microsoft has announced that it is to increase the cost of its paid online subscription service Xbox Live Gold. The new price program will see a one-month sub increase by $1 ($10.99), a three-month sub increase by $5 ($29.99), and a six-month sub increase by a substantial $20 ($59.99) with prices naturally adjusting for each territories’ local currency.
“Periodically, we assess the value and pricing of our services to reflect changes in regional marketplaces and to continue to invest in the Xbox community,” Microsoft said on its official blog. “In many markets, the price of Xbox Live Gold has not changed for years and in some markets, it hasn’t changed for over 10 years.”
Microsoft is currently contacting its Xbox Live Gold subscribers, and notes that the new pricing will take effect 45 days after this notice is sent. Microsoft has also clarified that any subscribers who choose to upgrade their Xbox Live Gold accounts to Xbox Game Pass Ultimate will carry over any and all remaining time on their current Live Gold account. Thus, if you have 10 months of Xbox Live Gold remaining and choose to upgrade, that will then become 10 months of Xbox Game Pass Ultimate.