Here is an essentially complete answer. If the normed linear space $X$ is of the second category, for example a Banach space, then the result is true. Otherwise it is false in general.
Here is a proof when $X$ is of the second category. Let $(f_{n})_{n\in\mathbb{N}}$ be a weak$^{*}$ Cauchy sequence in $X^{*}$. Then for each $x\in X$ the sequence $(f_{n}(x))_{n\in\mathbb{N}}$ is Cauchy and so the set $\{f_{n}(x) : n\in \mathbb{N} \}$ is bounded for every $x\in X$. It follows that the sequence $(f_{n})_{n\in\mathbb{N}}$ is norm bounded in $X^{*}$ by the uniform boundedness theorem, which is applicable since $X$ is of the second category. Then the sequence $(f_{n})_{n\in\mathbb{N}}$ has a weak$^{*}$ limit point $f \in X^{*}$ by the Banach-Alaoglu theorem. Hence $f(x)$ is a limit point of $(f_{n}(x))_{n\in\mathbb{N}}$ for every $x\in X$. Noting that for each $x\in X$ the Cauchy sequence $(f_{n}(x))_{n\in\mathbb{N}}$ converges to its limit point $f(x)$, it follows that $(f_{n})_{n\in\mathbb{N}}$ converges to $f$ in the weak$^{*}$ topology.
If it is no longer assumed that $X$ is of the second category then it cannot be guaranteed that the weak$^{*}$ Cauchy sequence is norm bounded. This is where the argument breaks down as the following counterexample shows. Let $c_{00}$ be the normed space of real-valued sequences with finite support equipped with the $\ell_{1}$-norm. For each $n\in\mathbb{N}$ define $f_{n}\colon c_{00} \to \mathbb{R}$ by $f_{n}(x) := \sum_{k=1}^{n} k\, x(k)$. We have $f_{n} \in (c_{00}, \|\cdot\|_{\ell_{1}})^{*}$ with $\| f_{n} \| = n$ for each $n\in\mathbb{N}$. By the definition of $c_{00}$ the sequence $(f_{n}(x))_{n\in\mathbb{N}}$ is eventually constant for every $x\in c_{00}$. Hence $(f_{n})_{n\in\mathbb{N}}$ is weak$^{*}$ Cauchy. Now suppose for a contradiction there is some $f\in (c_{00}, \|\cdot\|_{\ell_{1}})^{*}$ such that $(f_{n})_{n\in\mathbb{N}}$ converges to $f$ in the weak$^{*}$ topology. For each $k\in\mathbb{N}$ define $e_{k}\colon \mathbb{N} \to \mathbb{R}$ by $e_{k}(n) := \delta_{kn}$. Then for each $k\in\mathbb{N}$ the sequence $(f_{n}(e_{k}))_{n\in\mathbb{N}}$ converges to $k$ and so we have $f(e_{k}) = k$. But then $f$ is an unbounded linear functional which is a contradiction. Therefore the sequence $(f_{n})_{n\in\mathbb{N}}$ is weak$^{*}$ Cauchy but not convergent.
On a final note, the sequence in the counterexample above was not norm bounded. However, if the normed space is not complete then there can exist weak$^{*}$ convergent sequences which are not norm bounded. See here for an example.