Last week, Phoebe Bridgers announced that she was starting a new label called Saddest Factory (some wordplay on “satisfactory”) — an imprint of her current home at Dead Oceans — and today she’s announced the label’s first release. It’s a new single from the 21-year-old upstart Claud, who started releasing music a couple years ago under the name Toast and more recently has played shows with the likes of Bleachers and Girlpool.

They’ve put out a handful of singles over the past year, including their most popular “Wish You Were Gay,” and Claud’s latest, “Gold,” is coming out via Bridgers’ Saddest Factory. It’s a laidback track about two people who can’t work it out: “Don’t say you were there when you weren’t cus I don’t think you were there when I was hurting,” Claud sings in the run-up to the chorus. “Now I don’t know if I ever want to come home, now I don’t know if I ever want to go back.”

“Gold” comes attached to a video directed by Christina Xing. Check it out below.

“Gold” is out now via Saddest Factory.