Current profile is not allowed on Xbox live

Your profile doesn't appear to actually be Gold at this moment. Looks like a Free account right now. You may want to confirm with your bank that $59.99 was actually withdrawn. And also make sure you were signed into the right account when you bought Gold.
On the other hand, maybe it's a server thing, and it's just delayed a bit. If so, you can try contacting Xbox Customer Support. Normally I'd say to redownload your profile, but if the Gold isn't showing up in here in the forums, I can't imagine the issue
has anything to do with your local copy of the profile.

Can you not play at all, or not play online?

There are usually some limitations and other conditions of what the Xbox Live gold trial codes will allow.

Where did you get your 48 hour code?

That error means whatever game you're trying to play on Xbox Live requires a Gold subscription that you obviously no longer have.

You need a gold subscription. Gold is required to play online.