Display current taxonomy term when inside custom post type

Well, this should be pretty simple, however I couldn’t find answer anywhere on the web. all answers I found were close but no exactly what I needed.
what I need is to display just the current term of a custom post type I am in.
not all the terms just one! (the relevant one)

this is what I’m using but it displays ALL the terms which is not good for me:

<?php
$taxonomy = 'genre';
$queried_term = get_query_var($taxonomy);
$terms = get_terms($taxonomy, 'slug='.$queried_term);
if ($terms) {
  foreach($terms as $term) {
    echo $term->name;
  }
}
?>

remember – I would like to display it in my single post type template
can anyone suggest?
thanks

4 s
4

Ok, so I finally found what I needed here:
How to get current term in my custom taxonomy in WordPress?

the last update at the bottom courtesy of @user3208:

<?php   // Get terms for post
 $terms = get_the_terms( $post->ID , 'oil' );
 // Loop over each item since it's an array
 if ( $terms != null ){
 foreach( $terms as $term ) {
 // Print the name method from $term which is an OBJECT
 print $term->slug ;
 // Get rid of the other data stored in the object, since it's not needed
 unset($term);
} } ?>

That solved my issue!
Thanks

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