Let $(X,d)$ be a metric space and $\{x_n\}$ be a Cauchy sequence. I want to show, by only using the metric $d$, that the sequence cannot be "unbounded" (in some sense). I would like to show this as follows:
$$d(x_n, x_N)\le d(x_n, x_{N+1})+d(x_{N+1}, x_N)\le d(x_n, x_{N+2})+d(x_{N+2}, x_{N+1})+\dots + d(x_{N+K}, x_{N+K-1})+d(x_N, x_{N+K-1})<(N+K+2)\varepsilon$$
Initially I was trying to show this by analogy with a normed space, but using things like $d(x_n, 0)$.
Hence my question: does there need to be the zero element in a metric space?
There is a precise sense of “bounded” in a metric space. A subset $A$ (in your case the set of terms of the sequence) is bounded if $$ \sup\{d(x,y):x\in A\} $$ is finite or, which is the same, there exists $K$ such that $$ d(x,y)\le K,\quad\text{for all $x,y\in A$} $$ You need no “zero”, which doesn't necessarily exist.*
Since the sequence is Cauchy, there exists $N$ such that, for $m,n>N$, $d(x_m,x_n)<1$.
Let $K'=\max\{d(x_{N+1},x_n):0\le n\le N\}$ and $K=2(K'+1)$. Then…
* Usually metric spaces are taken to be non empty, but there is no real reason to make such an assumption.